President Donald Trump announced a drug pricing deal with Regeneron Pharmaceuticals on Thursday. The agreement is part of the White House's signature drug pricing initiative to lower the cost of pharmaceutical products for some Americans.
Regeneron is the latest in a string of major drugmakers to make pricing concessions for new and existing medicines under agreements with Trump. The company is the 17th drug company to agree to lower its prices as part of the administration's Most Favored Nation initiative.
Additionally, Regeneron has won US approval for its gene therapy to treat a rare form of deafness. This deal marks the final agreement among the 17 large pharmaceutical companies that negotiated deals with the administration.