Regeneron Cuts Drug Prices for Some Americans in Trump Deal, Offers Free Gene Therapy

Regeneron agreed to lower U.S. drug prices for some Americans as part of a deal with President Donald Trump, the White House said on Thursday. The biotech company will also offer the first hearing-loss gene therapy for free to eligible U.S. patients following regulatory approval of the product earlier Thursday.

Regeneron is the latest in a string of major drugmakers to make pricing concessions for new and existing medicines under agreements with Trump. Those deals are part of his "most favored nation" effort to tie U.S. drug prices to the lowest ones in other developed nations. The agreements also exempt the companies from tariffs for three years, including Trump's planned up to 100% levies on some pharmaceutical products.

The Trump administration has so far inked 17 deals, but is negotiating more with other biotech and pharma companies, said CMS deputy administrator Chris Klomp during a White House event on Thursday.

Regeneron's deal comes just hours after the Food and Drug Administration approved the company's gene therapy, Otarmeni, which restored hearing in a small number of deaf children. The treatment received an expedited approval under the FDA's so-called National Priority Voucher program.

The drug targets an ultra-rare genetic condition caused by a mutation that prevents the body from making a protein required for hearing. It's a significant breakthrough for a subset of patients who have long depended on cochlear implants.

In a March note, Piper Sandler analysts estimated that the gene therapy will rake in peak sales of $130 million.