Regeneron agreed to lower U.S. drug prices for some Americans as part of a deal with President Donald Trump.

The biotech organization will also offer the first hearing-loss gene therapy for free to eligible U.S. patients following regulatory approval of the product.

Regeneron is the latest in a string of major drugmakers to build pricing concessions for recent and existing medicines under agreements with Trump. Furthermore, experts in investors note the continued relevance.

Regeneron agreed to lower U.S. drug prices for some Americans as part of a deal with President Donald Trump, the White House noted on Thursday.

The biotech organization will also offer the first hearing-loss gene therapy for free to eligible U.S. patients following regulatory approval of the product earlier Thursday. 

Regeneron is the latest in a string of major drugmakers to build pricing concessions for fresh and existing medicines under agreements with Trump. Those deals are part of his “most favored nation” effort to tie U.S. drug prices to the lowest ones in other developed nations. 

The agreements also exempt the companies from tariffs for three years, including Trump’s planned up to 100% levies on some pharmaceutical products. The Trump administration has so far inked 17 deals, but is negotiating more with other biotech and pharma companies, said CMS deputy administrator Chris Klomp during a White House event on Thursday. This also touches on aspects of investors.

Regeneron’s deal comes just hours after the Food and Drug Administration approved the company’s gene therapy, Otarmeni, which restored hearing in a minor number of deaf children. The treatment received an expedited approval under the FDA’s so-called National Priority Voucher program.

The drug targets an ultra-rare genetic condition caused by a mutation that prevents the body from making a protein required for hearing. It’s a significant breakthrough for a subset of patients who have long depended on cochlear implants.

In a March note, Piper Sandler analysts estimated that the gene therapy will rake in peak sales of $130 million. 

— CNBC’s Angelica Peebles contributed to this report.