Trump will unveil a deal with Regeneron to lower drug prices

President Donald Trump on Thursday will announce a deal with drugmaker Regeneron to lower the cost of its pharmaceutical products as part of the White House's signature most-favored-nation drug pricing initiative.

The deal involves Regeneron lowering the prices of current and future drugs on Medicaid and selling a cholesterol drug called Praluent for $225 on the White House's discounted drug website TrumpRx, according to the agreement first outlined by NOTUS and confirmed by White House press secretary Karoline Leavitt.

The deal comes as the Trump administration has been touting efforts to provide economic relief ahead of November's midterm elections, with Americans saying high costs for health care, gas, groceries and other basic needs are straining their budgets.

It's one of many so-called most-favored-nation deals the Trump administration has made with drug companies to bring U.S. pharmaceutical prices to the same level as other developed nations. Last July, Trump publicly sent letters to executives at 17 major pharmaceutical companies about the issue. Regeneron is the final one of those companies to strike a deal with his administration.

As part of the deal, Regeneron has also committed to spending nearly $10 billion to bring pharmaceutical production to the United States, NOTUS reported. Trump’s deals have historically offered companies relief on his tariffs if they make such commitments.

Even as Trump and his Department of Health and Human Services have touted his drug-pricing deals as transformative, the details of the agreements have so far not been made public.

Pressed by members of Congress to share the contracts this week, Health Secretary Robert F. Kennedy Jr. said his team would share whatever details it could that didn't include proprietary information or trade secrets. Trump and Kennedy have urged Congress to codify the deals into law.

Drug prices for patients in the U.S. can depend on a number of factors, including the competition a treatment faces and insurance coverage. Most people have coverage through work, the individual insurance market or government programs like Medicaid and Medicare, which shield them from much of the cost.

Patients on Medicaid, the state and federally funded program for people with low incomes, already pay a nominal co-payment of a few dollars to fill their prescriptions, but lower prices could help state budgets that fund the programs.