Regeneron is the latest pharmaceutical manufacturer to make a deal with the administration to offer some of their drugs at most-favored-nation pricing.
Now, 17 of the largest drug manufacturers in the world have announced similar deals with the White House to offer some of their medicines at rates no higher than other economic peer countries because for decades, Americans have often paid much higher prices for prescription drugs.
The deals have been announced over the course of less than a year, after President Donald Trump issued an executive order in May 2025 aimed at securing most-favored-nation pricing. The president has said that the U.S. has effectively been paying for the high costs of pharmaceutical research and development and subsidizing prescription drugs for other countries.
The companies have agreed to sell their drugs to state Medicaid programs at most-favored-nation pricing, as well as offering some drugs at deeply discounted rates on government website TrumpRx for Americans not using insurance. Many of the agreements have also mentioned guaranteeing most-favored-nation pricing on all “new, innovative medicines” they bring to market, though it’s unclear whether that only applies to state Medicaid programs or commercial sales.
The president said these deals would result in “the largest drop in prescription drug prices in the history of the United States of America,” but he expressed doubt that it would factor into Americans’ decisions at the polls come November.
“It’s the biggest price reduction in drugs in history. By itself, we should win the midterms. But it doesn’t work that way,” Trump said. “Unfortunately, it doesn’t work that way. People forget too quickly.”
As part of its joint announcement with Regeneron Thursday, the White House also announced that the Food and Drug Administration had just approved one of Regeneron’s drugs, Otarmeni, which the president described as a “gene therapy curing a rare disease that causes deafness.”
He added that Regeneron would, for a time, be offering the drug for free.
A mother and two-year-old boy who was born with the ultra-rare condition were there Thursday to attest to the drug’s impact.
“It’s absolutely incredible,” she said. “With Regeneron and this amazing surgery, he can listen to music, and he loves it, and he loves to dance, and he loves instruments.”
