researcher pipetting samples in tube with chemist material in the pharmaceutical lab / chemical engineer working in the research laboratory
Regeneron will provide Otarmeni — a new gene therapy for an ultra-rare form of genetic hearing loss recently approved by the U.S. Food and Drug Administration — for free under a new agreement with the U.S. government. Plans also call for the pharmaceutical company to lower Medicaid prices based on those in other developed countries.
"For too long, American patients and taxpayers have shouldered a disproportionate share of the cost of biotechnology innovation — effectively subsidizing lower drug prices for other high-income nations that have not been paying their fair share," Leonard Schleifer, Regeneron's co-chair, president, and chief executive officer said. "Vilifying the biopharma industry has not produced lower prices for Americans, nor has it generated more innovation."
It should be noted that Regenron is the 17th and final major pharmaceutical manufacturer to lower U.S. prescription drug prices in line with the Trump administration's most-favored-nation (MFN) pricing.
According to a statement from The White House, 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."
Regeneron also will utilize the TrumpRX.gov platform to allow eligible patients to directly purchase Praluent, the company' PCSK9 inhibitor medicine, at the most-favored nation price.
"For more than a decade, we have argued that the most direct path to meaningful relief for American patients depends on getting other high-income countries to finally contribute their fair share to the cost of the breakthroughs they rely on just as much as we do," Schleifer added. "We hope [this] agreement, coupled with effective trade policy, will lead to closer equilibration of prices around the globe while preserving innovation and lowering prices for Americans."
Trump RX.com allows Americans to shop directly for prescription drugs at discounted rates without insurance and serves as a search engine linking buyers to direct-to-consumer drug websites.
In addition to Regeneron, the federal government 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, and AbbVie.
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