00:00The President, here, Chris Plump.
00:03And we have Steve — where's Steve?
00:05Is he here?
00:06Head of Public Relations for the White House.
00:11He's taking it.
00:14The United States is just 4 percent of the world's
00:17population and consumes only 13 percent of all
00:22prescription drugs, yet pharmaceutical companies
00:25make 75 percent of their profits from their
00:28American customer.
00:29I would say that's not so good, right?
00:34That's not exactly right.
00:35To address this chronic unfairness, I signed an
00:38executive order earlier this year instructing my
00:41administration to do everything in our power to
00:44implement most favored nations' drug pricing.
00:47Something that has been helped greatly by tariffs,
00:51because when nations refuse to do it — we should have
00:54put this in the case yesterday — I just say,
00:57well, if you're not going to do it, we're going to
00:58charge you a like amount of tariffs.
01:01And they immediately say, we'll do it.
01:04Which means that Americans should pay no more than the
01:06lowest price offered anywhere in the world.
01:10So that — you've heard for years the disparity
01:12where you'll pay $150 for a pill in New York and you'll
01:16pay $10 for a pill in London.
01:18Now you're going to pay $20, both — because the
01:21world is a little bit bigger than the U.S.
01:23so it goes up that way.
01:24But you'll pay $20 and $20.
01:27A tremendous advantage to our country after years of
01:32being abused by the world system.
01:35Already, Pfizer, AstraZeneca, and EMD, Serrano, have
01:40agreed to drastically lower their prices for American patients.
01:43And today, Eli Lilly and Novo Nordisk are joining the
01:49phenomenal list of the most exciting announcements.
01:53I mean, nobody has ever had announcements like — and
01:55this has to do with other pharmaceutical products also.
02:00But we're covering this today because it's such a big
02:02seller.
02:03I guess it's the number one selling thing there is today.
02:06These are two companies that are behind the
02:08groundbreaking weight loss drugs that have helped
02:11millions of Americans struggling with obesity,
02:14live better, longer lives, everything else.
02:16These are the two companies that really broke ground.
02:19Until now, neither of these two popular drugs have
02:22been covered by Medicare for weight loss, and they've
02:25only rarely been covered by Medicaid.
02:29They've often cost consumers more than $1,000 per month,
02:33and some a lot more than that.
02:36Americans have been spending as much as 520 percent more
02:40for ZepBound and 1,400 percent more for Wegovy than
02:46patients in Europe.
02:47Think of that.
02:481,400 percent more than a patient in Europe for the
02:50exact same box.
02:53And that ends starting today.
02:55The other countries are not happy with us.
02:58Now, I don't think they like me too much, Bobby,
03:00but that's okay.
03:01Eli Lilly and Novo Nordisk are committing to offer ZepBound
03:06and Wegovy at most favored nations rates for American patients.
03:11This will slash the cost of Wegovy from $1,350 a month
03:17to ultimately $250 a month.
03:20$1,350 to $250.
03:23Did I do a good job?
03:25They don't write about it.
03:26You know, they like to not write these things.
03:29And reduce — you think anybody — you think Biden
03:31could have done this?
03:32I don't think so.
03:33— and reduce the monthly cost of ZepBound from $1,080
03:38to $346.
03:41In addition, they're both committing that future
03:44GLP-1 weight loss drugs taken orally, which are
03:48currently under development, will be sold at no more
03:51than $149 per month.
03:54It's a massive — think of that.
03:56You go from $1,300 to $149 a month.
04:00We anticipate these new versions will be coming out
04:04in a very short period of time.
04:06All of these drugs will be available directly to the
04:09consumer at TrumpRx.gov.
04:13Trump — they won't use my name.
04:15Trump — it better be good.
04:17TrumpRx.gov.
04:19And I think it's turning out to be pretty amazing, right?
04:21Just as significantly, Medicare and Medicaid will
04:26finally cover the cost of these weight loss drugs
04:29for millions of patients suffering from obesity.
04:33Co-pays for Medicare patients will be as low as $50.
04:38This is tremendous savings.
04:41I mean, now you're talking about from $1,350 to $50.
04:47This is tremendous news for the American seniors.
04:49And you all remember when I had one-eighth of 1 percent
04:53for the year — I cut it — one-eighth of it.
04:55And I was so thrilled.
04:56But now we're cutting it 1,000 percent, 1,200 percent.
05:00Nobody has ever seen anything like this.
05:02Nobody else could have done it, but I say that modestly.
05:06In addition, you think it was easy dealing with these people?
05:09It wasn't.
05:10You think it was easy saying,
05:13your drug, Mr. Eli Lilly, that we're selling for 1,300
05:16is going to be sold for 250.
05:19You know the amazing thing?
05:20The stocks all went up.
05:21I mean, these guys are — they're fantastic.
05:24Because it's going to equalize the world.
05:28The world is a bigger place, and it's going to equalize.
05:32I was a little surprised to see that,
05:33but I'm happy about it.
05:34In addition, Eli Lilly and Novo Nordisk
05:37have agreed to provide all of their other medications
05:40to Medicaid at most favored nations' prices —
05:43most favored nations,
05:45meaning that you will pay the lowest price anywhere in the world.
05:49That's what you're going to pay.
05:50Whereas, before, they paid low prices,
05:52and we paid, you know, thousands of percentile ahead more.
05:59And to sell these drugs to all consumers
06:01at deeply discounted prices via TrumpRx.com.
06:06When is TrumpRx.com opening?
06:08The President Trump is opening.
06:09It will launch in terms of giving people prices
06:12before the end of the year.
06:13The President Trump has got my name on it.
06:17I don't want to be like so many others.
06:19I don't want to be like the train
06:21they're building in California, okay?
06:23Which has about 15,000 percent cost to overrun.
06:28Or the Obama — the beautiful Obama building
06:31that he's building in Chicago for the museum,
06:35which has now shuttered up and dead.
06:38They got it up, and they couldn't finish.
06:41It's about, would you say, five years behind schedule?
06:44The President Trump had about 2,000 percent over budget.
06:47Then he tells us how to run Medicaid.
06:50Many of the most widely used drugs will be available for 60 percent off,
06:55or even more than that.
06:57In addition, all new medications introduced by Eli Lilly and Novo Nordisk
07:04to the American market will be sold at the heavily reduced,
07:08most favored nation's price.
07:10Most favored nation's price, that's the best.
07:13Because they have been thousands of percent lower
07:17than what we were selling, in many cases.
07:20Furthermore, Eli Lilly is investing $27 billion.
07:23That's all, and Novo Nordisk will invest $10 billion.
07:28That's all, that's peanuts, in the United States to reshore
07:33and do a big domestic manufacturing job in the facilities.
07:39They're going to spend — so Eli Lilly spent $27 billion.
07:43Novo is spending $10 billion in the United States.
07:46So they're building new plant and equipment.
07:50That's part of what will be $20 or $21 trillion this year.
07:55There's never been anything like it.
07:57I know nobody talks about it.
07:59But there's never been anything like —
08:00I would say you would say that there's never been anything like this,
08:04ever in — whether it's China or Europe,
08:07or you could take all of Europe,
08:09there's never been anything like this.
08:11So we're already past $17 trillion.
08:13We're going to be, I think, by the time the year closes out,
08:16we'll have investments of over $21 trillion,
08:19based on the way we're going.
08:20And — and by the way, tariffs are very important.
08:23Without tariffs, perhaps it could be a little bit different,
08:27to put it mildly. Tariffs are so important.
08:30The decision in the Supreme Court would be devastating to our country
08:35if we got a negative — devastating if we got a negative decision.
08:40But this is a great day for American health
08:43and health care and for all of American patients.
08:46These are things that are miracles to have this happen.
08:49And they're — you know, we're bringing all our medicines again
08:52because of tariffs. We're bringing all our medicines.
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