WASHINGTON — President Donald Trump announced a deal with drugmaker Regeneron in Washington to lower the cost of the company's pharmaceutical products as part of the White House's drug pricing initiative. The agreement requires Regeneron to lower the prices of all its current and future drugs on Medicaid and to sell the cholesterol drug Praluent for $225 on the White House's discounted drug website TrumpRx, according to a White House fact sheet.

The deal is one of many most-favored-nation agreements the Trump administration has reached with drug companies to align U.S. pharmaceutical prices with those of other developed nations. Last July, Trump sent letters to executives at 17 major pharmaceutical companies about drug pricing, and Regeneron is the final company among those 17 to strike a deal with the administration.

Regeneron committed to spending $27 billion in research, development and manufacturing in the U.S. as part of the new deal, according to a White House fact sheet. According to NOTUS, which first outlined the agreement, Regeneron committed to spending nearly $10 billion to bring pharmaceutical production to the United States.

Trump's drug pricing deals have historically offered companies relief from his tariffs if they made manufacturing or research commitments. Trump and the Department of Health and Human Services described the drug-pricing deals as transformative. "It should be front page news," Trump said of the agreement.

Details of the drug pricing agreements have not been made public. Health Secretary Robert F. Kennedy Jr. said his team would share details of the agreements that did not include proprietary information or trade secrets. Trump and Kennedy urged Congress to codify the drug pricing deals into law.

During his first term in 2020, when he was hospitalized with COVID-19, Trump was given a dose of an antibody drug that Regeneron was testing. After his release from the hospital, he posted a video of himself outside the White House praising Regeneron.

Drug prices for patients in the U.S. can depend on factors including the competition a treatment faces and insurance coverage. Most people in the U.S. have health coverage through work, the individual insurance market or programs like Medicaid and Medicare. Patients on Medicaid pay a nominal co-payment of a few dollars to fill prescriptions.