Pfizer to Sell Some Drugs in US at 50% Average Discount After Reaching Deal With Trump

Watch Pfizer to Sell Some Drugs in US at 50% Average Discount After Reaching Deal With Trump - Bloomberg on Dailymotion

Transcript

00:00Today Pfizer is committing to offer all of their prescription medications to Medicaid and

00:04it will be at the most favored nation's prices. It's going to have a huge impact on bringing

00:09Medicaid costs down like nothing else. I told you that in my first term I was so proud of the fact

00:16that for the first time in 28 years drug prices came down and I had a news conference that I

00:22explained it was one-tenth of one percent but it was down and here we're talking about in one case

00:29over a thousand percent. This is a critical step forward to our work and to improve health care and

00:34hard-working low-income Americans especially low-income Americans will be helped so greatly

00:40in addition Pfizer has agreed to provide some of their most popular current medications to all

00:45consumers at heavily discounted prices of anywhere between 50 and even 100 percent and that's off

00:52that's off the price and in some cases even more than that these drugs will be available for direct

00:58purchase online at a website operated by the federal government. We're also announcing that

01:03moving forward all new medications introduced by Pfizer to the American market will be sold at the

01:09reduced most favored nation costs so we'll be paying essentially what other countries are paying

01:15who have been much lower much much lower for many many years. Furthermore Pfizer will invest 70 billion

01:22dollars to reshore domestic manufacturing facilities in other words they're going to bring a lot of their

01:28their facilities to make their drugs and make what they make their product they're going to make it in

01:34the United States. I appreciate that 70 billion dollar investment and fund research and development right here in America.