Regeneron Strikes Historic Drug Pricing Deal with White House

The White House is set to announce a drug pricing agreement with Regeneron Pharmaceuticals. As part of the deal, Regeneron agreed to reduce Medicaid prices for its medications. It will also offer gene therapy for a rare hearing loss condition at no cost in the U.S.

The White House will officially announce a landmark drug pricing agreement with Regeneron Pharmaceuticals during an event scheduled for Thursday afternoon, as confirmed by White House press secretary Karoline Leavitt on social media platform X.

This announcement places Regeneron as the final participant among 17 major pharmaceutical corporations that have been in negotiations following letters received from President Donald Trump in July. Regeneron's stock saw a noticeable rise, climbing more than 2% during morning trading.

The agreement entails Regeneron reducing prices for Medicaid medications as part of the government's initiative to bring down drug costs in alignment with prices in other wealthy nations. Additionally, Regeneron will offer its cholesterol drug Praluent at a price point of $225. Moreover, the company has gained approval for its gene therapy Otarmeni, designed for children with rare hearing loss, which will be distributed free of charge in the U.S.