President Donald J. Trump announced a landmark agreement with Regeneron Pharmaceuticals on Thursday, delivering what the White House described as the largest prescription drug price reductions in U.S. history.

The deal, the 17th in a series of most-favored-nation (MFN) pricing pacts, aligns U.S. prices for Regeneron products with the lowest rates paid by other developed nations. It includes sharp cuts on specific medications available through the TrumpRx.gov website, launched in February to provide direct discounts to patients.

Under the agreement, Praluent, a cholesterol-lowering injection, drops from $537 to $225 for patients buying directly via TrumpRx. All future Regeneron medicines will offer MFN pricing to every state Medicaid program, projecting hundreds of millions in savings. Additionally, Otarmeni, a gene therapy for a rare form of genetic deafness, will be provided at no cost to eligible American families after FDA approval on an accelerated timeline.

The MFN model ensures Americans no longer subsidize lower prices abroad, a core element of Trump's drug pricing strategy revived from his first term. Regeneron is committed to investing $27 billion in U.S. research, development, and manufacturing by 2029, including more than doubling its domestic biologic production capacity.

These 17 agreements now encompass the top pharmaceutical manufacturers, representing 86% of the branded drug market. Prior deals include Pfizer in September 2025, nine companies in December 2025, and others like Eli Lilly and Novo Nordisk for obesity drugs such as Ozempic and Wegovy, which fell from over $1,000 monthly to as low as $199 via TrumpRx.

The initiative stems from a May 2025 executive order directing MFN pricing, followed by manufacturer outreach and a December 2025 U.K. pact raising foreign prices by 25% to offset U.S. innovation costs. TrumpRx.gov facilitates access with printable coupons for uninsured patients or those facing high out-of-pocket costs, covering 40 high-demand drugs at launch.

Overall, pharmaceutical investments in the U.S. have reached $448 billion in 15 months under Trump. The Regeneron pact requires repatriation of increased foreign revenues from America First trade policies back to American patients. State Medicaid programs gain immediate MFN access to new products, broadening relief beyond direct buyers.

Trump has touted these efforts as positioning the U.S. for the world's lowest drug prices, building on fertility drug cuts saving over $2,000 per cycle and insulin reductions to $25 monthly. The administration anticipates further deals and codification via proposed legislation like the Great Healthcare Plan.