Regeneron agrees to lower prices as gene therapy approved, Bloomberg says

Regeneron (REGN) reached a deal with the Trump administration to lower drug costs as it received approval for its gene therapy to treat a rare form of deafness, Gerry Smith and Jeff Mason of Bloomberg report, citing a source. Regeneron was the last of the major drug companies that President rump had targeted as part of his plan to lower drug costs in the U.S., Bloomberg points out. The Food and Drug Administration is set to clear Regeneron’s gene therapy that restored hearing in children who were profoundly deaf, Bloomberg adds.