\nGenentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY<\/a>), announced an agreement with the U.S. government that lowers costs for state Medicaid programs, encourages other wealthy countries to reward innovation, and increases opportunities for direct patient access.\n<\/p>\n
\nUnder this agreement, Genentech is making commitments that address all four priorities set forth in the President\u2019s July 31st letter. Genentech\u2019s commitments include making many of the company\u2019s medicines, including those for serious and complex diseases, available as part of Medicaid for America\u2019s most vulnerable patients at prices comparable to those available in other wealthy countries. Genentech will also expand its recently-launched direct-to-patient program<\/a> for its essential flu medicines and make the program available via TrumpRx.gov<\/a>.\n<\/p>\n \n\u201cToday\u2019s agreement demonstrates our ongoing commitment to enhancing access to life-changing therapeutics, so patients may benefit from our country\u2019s long-term commitment to innovation,\u201d said Ashley Magargee, Chief Executive Officer of Genentech. \u201cAs the proud founder of the American biotech industry, we share the goals of the administration to address prescription drug costs and reward innovation. As always, Genentech will continue to seek solutions for lowering patient costs while increasing opportunities for patient access.\u201d\n<\/p>\n \nThe Company recently announced a $50 billion investment in U.S. manufacturing, infrastructure, and R&D. This includes breaking ground on a new facility<\/a> in Holly Springs, North Carolina and onshoring billions of dollars in research and manufacturing to the U.S. These significant investments will bolster the economy by supporting more than 11,000 jobs, including approximately 6,500 construction jobs to develop new facilities. Additionally, these investments will create up to 1,000 highly skilled jobs at new and expanded sites, adding to the more than 25,000 Genentech employees already in the U.S.\n<\/p>\n \nGenentech also reached an agreement with the U.S. government for a three year exemption from tariffs, further enabling Genentech\u2019s continued investment and expansion of its manufacturing footprint in the U.S. In addition, Genentech will not be subject to future pricing mandates.\n<\/p>\n \nSpecific terms of the agreement remain confidential.\n<\/p>\n \nAbout Genentech\n<\/p>\n \nFounded nearly 50 years ago, Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes medicines to treat patients with serious and life-threatening medical conditions. The company, a member of the Roche Group, has headquarters in South San Francisco, California. For additional information about the company, please visit http:\/\/www.gene.com<\/a>.\n<\/p>\n View source version on businesswire.com: https:\/\/www.businesswire.com\/news\/home\/20251219397427\/en\/<\/a><\/p>\n \nGenentech Media Relations: (650) 467-6800\n<\/p>\n \nDean Mastrojohn<\/p>\n
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mastrojd@gene.com
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(628) 338-0174\n<\/p>\n