Trump Administration Announces 17th Most-Favored-Nation Drug Pricing Agreement With Regeneron

Key Takeaways

• The Trump Administration announced its 17th most-favored-nation (MFN) drug pricing agreement, this time with Regeneron.
• State Medicaid programs will gain access to MFN pricing on new Regeneron therapies, with projected savings of “hundreds of millions.”
• Direct-to-patient pricing reductions include a decrease in the cost of Praluent from $537 to $225 through the TrumpRx platform.
• Regeneron’s gene therapy for a rare genetic form of deafness, Otarmeni, will be provided at no cost to US patients.
• Regeneron plans to invest $27 billion in US research, development, and manufacturing by 2029, expanding domestic production capacity.
• Agreements now span 17 pharmaceutical manufacturers, representing 86% of the branded drug market, according to the Administration.

The Trump Administration today announced a new agreement with pharmaceutical manufacturer Regeneron aimed at aligning US prescription drug prices with those paid in other developed nations under a most-favored-nation (MFN) pricing model.

According to the announcement, the agreement expands access to lower pricing for public programs and patients, while also incorporating provisions related to drug development, manufacturing, and international pricing dynamics.

Medicaid Access and Market Impact

The agreement will provide all state Medicaid programs access to MFN pricing for new Regeneron products, a move projected to generate “hundreds of millions in savings” for the program. The Administration noted that this marks the 17th such agreement with major pharmaceutical manufacturers, collectively representing 86% of the branded drug market.

Under the terms outlined, participating manufacturers have agreed to provide US patients with pricing aligned to the lowest levels offered in other developed countries. The agreement also includes provisions intended to address international pricing structures, including requirements tied to foreign revenue and pricing practices.

Direct-to-Patient Pricing Reductions

The announcement states that patients purchasing medications through the TrumpRx platform will see reduced prices on certain therapies. For example, Regeneron’s cholesterol medication Praluent will be reduced from $537 to $225 for direct purchasers.

Additionally, all new Regeneron medicines are expected to carry MFN pricing for US patients moving forward.

Rare Disease Therapy at No Cost

As part of the agreement, Regeneron’s gene therapy for a rare genetic form of deafness, Otarmeni, will be provided at no cost to US patients. The therapy received approval through the FDA Commissioner’s National Priority Voucher Program, described as a mechanism to accelerate review timelines for treatments aligned with national priorities.

The Administration stated that the treatment “will cost nothing to American families who have longed for their children to hear.”

Domestic Investment and Supply Chain Expansion

Regeneron also announced plans to invest $27 billion in US-based research, development, and manufacturing by 2029. The company indicated this investment will more than double its domestic manufacturing capacity for biologic medicines distributed in the United States.

According to the Administration, this commitment brings total pharmaceutical industry investment in the US during this period to $448 billion.

Policy Context and Timeline

The agreement follows a series of policy actions related to drug pricing. These include a May 2025 Executive Order directing efforts to implement MFN pricing, as well as outreach to pharmaceutical manufacturers outlining expectations for aligning US prices with those in comparable countries.

Additional milestones cited include the launch of the TrumpRx platform in February 2026 and multiple agreements with pharmaceutical companies throughout late 2025 and early 2026.

With the addition of Regeneron, the Administration reports agreements are now in place with 17 manufacturers, including Pfizer, AstraZeneca, Eli Lilly, Novartis, and Johnson & Johnson, among others.

The Administration characterized these efforts as part of a broader initiative to lower prescription drug costs and expand access for American patients.

Reference

The White House. Fact sheet: President Donald J. Trump announces deal with Regeneron to bring Most-Favored-Nation Pricing to American patients. Whitehouse.gov. Published April 23, 2026. Accessed April 23 2026. https://www.whitehouse.gov/fact-sheets/2026/04/fact-sheet-president-donald-j-trump-announces-deal-with-regeneron-to-bring-most-favored-nation-pricing-to-american-patients/