Regeneron Inks Drug Pricing Deal

Under the terms of the deal, Regeneron will provide its pharmaceutical products at drastically reduced prices in exchange for three years of tariff relief from the Department of Commerce.

Trump touted the agreement as the 'biggest price reduction in drugs in history' during an event in the Oval Office.

As part of the commitment, Regeneron will also offer its new gene therapy for genetic hearing loss free of charge to eligible American patients.

The administration is continuing to pressure other major drugmakers to make similar concessions to lower healthcare costs for Americans.