Regeneron says it expects to avoid new US pharma tariffs
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The Regeneron Pharmaceuticals company logo is seen on a building at the company's Westchester campus in Tarrytown, New York, U.S. September 17, 2020. REUTERS/Brendan McDermid
April 2 (Reuters) - Drugmaker Regeneron said on Thursday it expects to be excluded from a list of pharmaceutical companies that could face new tariffs from the U.S. government.
Late on Wednesday, Bloomberg News reported that the Trump administration is set to announce new tariffs as soon as Thursday, targeting drugmakers that have not reached agreements guaranteeing lower drug prices in the United States.
Regeneron said it anticipates announcing a deal with the Trump administration "in the near future" to reduce prescription drug prices for the government's Medicaid program and for patients paying with cash.
Regeneron is the sole company among 17 large pharmaceutical companies that received letters from President Donald Trump in July that has yet to sign such an agreement.
Drugmakers have committed to "most-favoured-nation" pricing, to sell drugs directly to consumers through a new government platform called TrumpRx.gov and pledged billions of dollars in U.S. investments.
(Reporting by Christy Santhosh in Bengaluru; Editing by Tasim Zahid)
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