Trump confirms new deal with pharmaceutical company Regeneron to lower drug prices

President Donald Trump unveiled a new deal Thursday afternoon with the pharmaceutical company Regeneron as part of his “most favored nation” plan, which will see the company voluntarily cut prices for American taxpayers.

Regeneron agreed to reduce prices for its current and future medications sold to Medicaid, and to lower the price of its cholesterol drug Praluent to $225 for Americans through the TrumpRx.gov website in exchange for relief from pharmaceutical tariffs.

The agreement makes Regeneron the 17th company to sign the Trump administration's “most favored nation” plan. 

Department of Health and Human Services chief counselor Chris Klomp said the combined "most favored nation" deals impact 86% of branded pharmaceuticals for people covered under Medicaid.

"We are negotiating with the many hundreds of biotechnology and pharmaceutical companies representing that other 14%, that are building the cures for tomorrow," he said at a White House event on the deal.

The move also comes as the Trump administration and congressional Republicans push their domestic affordability agenda ahead of the November midterms. 

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.