President Trump announced in the Oval Office that the Food and Drug Administration (FDA) approved a new gene therapy called Otarmeni (developed by Regeneron Pharmaceuticals) to treat a rare form of genetic deafness in children.

Key details about this announcement include

The Treatment: Otarmeni, previously known as DB-OTO, is a one-time in vivo gene therapy designed to treat children born with hearing loss associated with mutations in the OTOF gene.

The "Miracle Cure" Description: During the Oval Office event, President Trump featured a 2-year-old child named Travis Smith, who was born deaf and regained hearing after receiving the treatment.

Availability: As part of a drug pricing agreement with the Trump administration, Regeneron announced that the therapy would be provided free to eligible patients in the United States.

Approval Process: Otarmeni was approved under the FDA’s "National Priority Voucher" program, a process fast-tracked to expedite treatments for serious conditions.

The announcement was part of a broader drug-pricing deal with Regeneron—the 17th such deal with major pharmaceutical companies under Trump's "Most Favored Nation" initiative—which also included price reductions for the cholesterol medication Praluent.