Trump Announces Regeneron MFN Drug Pricing Deal, $27B US Investment

Fact Sheets

Fact Sheet: President Donald J. Trump Announces Deal with Regeneron to Bring Most-Favored-Nation Pricing to American Patients

The White House

April 23, 2026

ADVANCING MOST-FAVORED-NATION (MFN) PRICING: Today, President Donald J. Trump announced the 17th agreement with a major pharmaceutical manufacturer, Regeneron, to lower prescription drug prices that Americans pay for some of the world’s most innovative drugs, in line with the lowest prices paid by other developed nations (known as the most-favored-nation, or MFN, price).

• The agreement will provide every State Medicaid program in the country access to MFN drug prices on new Regeneron products, resulting in hundreds of millions in savings and continuing President Trump’s historic efforts to strengthen the program for the most vulnerable Americans.
• The agreement ensures foreign nations can no longer use price controls to freeride on American innovation by guaranteeing MFN prices on all new innovative medicines Regeneron brings to market.
• The agreement requires Regeneron to repatriate increased foreign revenue on existing products that Regeneron realizes as a result of the President’s strong America First U.S. trade policies for the benefit of American patients.

• The agreement marks the President’s 17 th MFN deal made, with deals now covering the 17 leading pharmaceutical manufacturers, representing 86% of the branded drug market. Each of these manufacturers has agreed to fundamentally rebalance international drug pricing by providing MFN pricing to American patients.
  DELIVERING LOWER COSTS: Patients will see massive price reductions on products when purchasing medicines directly through TrumpRx as a result of today’s actions.

• Regeneron will reduce the price of its powerful cholesterol medicine, Praluent, from $537 to $225 for patients purchasing directly through TrumpRx.

• All new Regeneron medicines moving forward will receive MFN prices for U.S. patients.
  GROUNDBREAKING RARE DISEASE TREATMENT AT NO COST: The President also announced that Regeneron’s new gene therapy for a rare type of genetic deafness from Regeneron, called Otarmeni, will be given to U.S. patients at no cost as part of this agreement.

• Otarmeni was approved today on an unprecedented timeline through the Food and Drug Administration (FDA) Commissioner’s National Priority Voucher Program, a new process to accelerate review of products that align with critical national priorities.

• This needed treatment will cost nothing to American families who have longed for their children to hear.
  INVESTING IN AMERICA TO SECURE PHARMACEUTICAL SUPPLY CHAINS: **** Regeneron is also announcing that it will invest $27 billion in U.S. research, development, and manufacturing by 2029.

• In this commitment, the company will onshore more than double its manufacturing capacity in the United States for the production of its biologic pharmaceutical medicines that are distributed in America.

• This announcement brings U.S. pharmaceutical investments under President Trump to a total of $448 billion in only 15 months.
  DELIVERING ON PROMISES TO PUT AMERICAN PATIENTS FIRST: President Trump is delivering on promises for American patients, accomplishing historic wins that the political establishment did not believe were possible.

• On May 12, 2025, President Trump signed an Executive Order titled: “Delivering Most-Favored-Nation Prescription Drug Pricing to American Patients” directing the Administration to take numerous actions to bring American drug prices in line with those paid by similar nations.

• On July 31, 2025, President Trump sent letters to 17 of the leading pharmaceutical manufacturers outlining the steps they must take to bring down the prices of prescription drugs in the United States to match the lowest price offered in other developed nations. There are now MFN deals with each of those leading pharmaceutical manufacturers.

• On September 30, 2025, President Trump announced the first agreement, with the drug manufacturer Pfizer, to bring MFN prices to American patients.

• On December 1, 2025, the Office of the United States Trade Representative, the Department of Commerce, and the Department of Health and Human Services announced an agreement with the United Kingdom (U.K.) that will increase the net price of new prescription drugs by 25% in the U.K., helping ensure they pay their fair share for innovative medicines.

• On December 19, 2025, President Trump announced nine new agreements with major pharmaceutical companies.

• On February 5, 2026, President Trump launched TrumpRx.gov , where patients can access large discounts on many of the most popular and highest-priced medicines in the country, paying prices in line with the MFN price.

• As of today, April 23, the Administration now has agreements with Pfizer, Astra Zeneca, EMD Serono, Eli Lilly, Novo Nordisk, Amgen, Bristol Myers Squibb, Boehringer Ingelheim, Genentech, Gilead Sciences, GSK, Merck, Novartis, Sanofi, Johnson & Johnson, AbbVie, and Regeneron.