Trump Administration Announces New MFN Price Agreements With 9 Big Pharma Companies

The White House Fact Sheet:

https://www.whitehouse.gov/fact-sheets/2025/12/fact-sheet-president-donald-j-trump-announces-largest-developments-to-date-in-bringing-most-favored-nation-pricing-to-american-patients/

Fact Sheet: President Donald J. Trump Announces Largest Developments to Date in Bringing Most-Favored-Nation Pricing to American Patients
The White House
December 19, 2025

LOWERING DRUG PRICES FOR AMERICAN PATIENTS: Today, President Donald J. Trump announced nine new agreements with major pharmaceutical companies to lower prescription drug prices for Americans in line with the lowest prices paid by other developed nations (known as the most-favored-nation, or MFN, price).

• The nine manufacturers include Amgen, Bristol Myers Squibb, Boehringer Ingelheim, Genentech, Gilead Sciences, GSK, Merck, Novartis, and Sanofi.
• The agreements reduce prices on drugs that treat numerous costly and chronic conditions, including type two diabetes, rheumatoid arthritis, multiple sclerosis, asthma, chronic obstructive pulmonary disease (COPD), hepatitis B and C, human immunodeficiency virus (HIV), and certain cancers, among others.
• The agreements will provide every State Medicaid program in the country access to MFN drug prices on products made by the nine companies, resulting in billions of dollars in savings and continuing President Trump’s historic efforts to strengthen the program for the most vulnerable.
• The agreements ensure foreign nations can no longer use price controls to free ride on American innovation by guaranteeing MFN prices on all new innovative medicines the nine companies bring to market.
• The agreements require the nine companies to repatriate increased foreign revenue on existing products that they realize as a result of the President’s strong America First U.S. trade policies for the benefit of American patients.
• The agreements require the nine companies to offer medicines at a deep discount off the list price when selling directly to American patients through TrumpRx.

DELIVERING LOWER COSTS: Patients will be able to see massive price reductions on numerous products when purchasing directly through TrumpRx as a result of today’s actions. Select examples include:

• Amgen will reduce the price of its cholesterol-lowering drug Repatha from $573 to $239 for patients purchasing directly through TrumpRx.
• Bristol Myers Squibb will reduce the price of its HIV medication, Reyataz, from $1,449 to $217 for patients purchasing directly through TrumpRx.
• Boehringer Ingelheim will reduce the price of its type two diabetes medication, Jentadeuto, from $525 to $55 for patients purchasing directly through TrumpRx.
• Genentech will reduce the price of its flu medication, Xofluza, from $168 to $50 for patients purchasing directly through TrumpRx.
• Gilead Sciences will reduce the price of its Hepatitis C medication, Epclusa, from $24,920 to $2,425 for patients purchasing directly through TrumpRx.
• GSK will reduce the prices of its inhaler portfolio. Prices for the popular asthma inhaler Advair Diskus 500/50 will fall from $265 to $89 for patients purchasing directly through TrumpRx.
• Merck will reduce the price of its diabetes medication, Januvia, from $330 to $100 for patients purchasing directly through TrumpRx.
• Novartis will reduce the price of its Multiple Sclerosis medication, Mayzent, from $9,987 to $1,137 for patients purchasing directly through TrumpRx.
• Sanofi will reduce the price of its prescription blood thinner, Plavix, from $756 to $16 for patients purchasing directly through TrumpRx and Sanofi will list its insulin products at TrumpRx at $35 per month’s supply.

BOLSTERING NATIONAL HEALTH SECURITY BY INVESTING IN AMERICA: The pharmaceutical manufacturers involved in today’s announcement are committing to invest at least $150 billion collectively in U.S. manufacturing in the near term. Additionally, as part of the agreements, several companies are donating active pharmaceutical ingredients for key products to the Strategic Active Pharmaceutical Ingredients Reserve (SAPIR) to reduce reliance on foreign nations and ensure the United States has an adequate supply of such products in the event of an emergency.

• GSK will contribute 98.8kg of albuterol, the active ingredient in a common rescue inhaler for people with asthma.
• Bristol Myers Squibb will contribute tablets representing 6.5 tons of apixaban, the active ingredient in the drug Eliquis, a blood thinner taken by millions of American patients.
• Merck will contribute 3.5 tons of ertapenem, an antibacterial medication used to treat complex infections.

DELIVERING ON PROMISES TO PUT AMERICAN PATIENTS FIRST: President Trump is delivering on promises to ensure American patients no longer pay high prices to subsidize low prices in the rest of the world, something the political establishment did not believe was 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 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.
• Since September 30, 2025, President Trump has announced 14 deals with major pharmaceutical manufacturers to bring prices in line with those paid in other developed nations, which will provide substantial price relief on numerous products taken by millions of Americans.
• 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.

Johnson & Johnson disclosed their MFN agreement late yesterday evening.  Regeneron and AbbVie are still outstanding::

https://thehill.com/policy/healthcare/5681535-johnson-johnson-trump-drug-prices/

Johnson & Johnson announces drug pricing deal with Trump administration
By Nathaniel Weixel - January 9, 2026

Johnson & Johnson said late Thursday it will lower prices for certain prescription drugs and match the rates in other countries, becoming the latest pharmaceutical company to strike a deal with the Trump administration in exchange for tariff relief.

The New Jersey-based health conglomerate was one of the 17 companies President Trump called out last summer to lower drug prices as part of his administration’s “most favored nation” push.

Drugmakers have been eager to strike voluntary deals to avoid punitive actions such as tariffs that could cut deeply into their profits. The only companies who received letters that have yet to strike deals with the administration are AbbVie and Regeneron.

“I’m proud that Johnson & Johnson is answering President Trump’s call to lower drug prices for everyday Americans while maintaining our role in improving and saving lives and ensuring that the United States continues to lead the world in healthcare innovation,” Joaquin Duato, chair and chief executive of Johnson & Johnson, said in a statement.

Under the agreement, J&J will offer specific drugs for sale directly to consumers at significant discounts through the Trump administration’s forthcoming TrumpRx website. It will also offer its drugs to the Medicaid program at comparable prices to other developed countries. The company did not say which drugs were part of the agreement.

J&J also did not specify how long its tariff reprieve will be, saying the specific terms remain confidential.

The agreement follows similar deals the administration has already made with pharma companies like Amgen, Bristol Myers Squibb, Gilead, GSK, Merck, Novartis, Genentech and Sanofi.

J&J also said it is planning two new U.S. manufacturing facilities as part of a previously announced $55 billion investment: a cell therapy manufacturing site in Pennsylvania and a drug product manufacturing facility in North Carolina.

The company said construction is progressing on a $2 billion biologics manufacturing facility in Wilson, N.C., which will create about 5,000 skilled jobs in the state.

It took a while, but the Trump Administration has struck a deal with New York based Regeneron, which was the last holdout:

https://thehill.com/policy/healthcare/5845958-trump-regeneron-drug-price-deal/

Trump unveils Regeneron deal to lower drug prices
By Nathaniel Weixel - April 23, 20266

President Trump unveiled a deal with drugmaker Regeneron on Thursday for the company to voluntarily cut prices, the final manufacturer to commit to the White House’s “most favored nation” plan to lower U.S. costs in line with other developed nations.

Under the agreement, Regeneron said it will reduce prices for its current and future medications sold to Medicaid.

It will also offer its cholesterol drug Praluent for a discounted price of $225 through the TrumpRx.gov website in exchange for tariff relief and other incentives.

Trump has long used tariff threats as leverage to force companies to lower prices and move manufacturing to the U.S.

Regeneron is the last of the 17 companies the White House targeted last year to commit to cutting prices under his most favored nation policy.

The discounts apply to Medicaid patients, not to people on private insurance or Medicare. Experts have noted the discounts aren’t likely to significantly impact companies’ bottom lines, as Medicaid drugs are already highly discounted.

At a White House event touting the deal, HHS chief counselor Chris Klomp said the combined deals represent 86 percent of the branded drug market. He said the administration now plans to work out agreements with the “many hundreds” of smaller pharmaceutical and biotech companies in the U.S.

The Trump administration has made lowering prescription drug costs a central part of its domestic policy agenda, as the administration is working to convince voters that Republicans care about affordability ahead of the November midterm elections.

However, the details of the agreements remain private, making it difficult to assess their true impact. Democrats this week pressed Health Secretary Robert F. Kennedy Jr. to release details of the agreements, arguing they fall well short of the administration’s grand promises.

The pricing agreement came just hours after Regeneron announced the Food and Drug Administration had approved the company’s gene therapy for children with profound genetic hearing loss.

The therapy treats an extremely rare genetic variant found in only about 50 children a year. It is the first treatment to restore normal hearing in children who were born deaf. The only other way to treat the condition, called otoferlin deafness, has been with a cochlear implant.

Gene therapies are some of the most expensive drugs on the market, but Regeneron said it would provide the treatment for free.