00:00I'm thrilled to be joined by the leaders of nine of the world's largest pharmaceutical
00:04manufacturers, all very big names, celebrities in their own right, very, very powerful people,
00:14and they head some of the most admired companies anywhere in the world, it's a great group,
00:20to announce that they've agreed to offer many of their flagship drugs, really all of their
00:26flagship drugs, at heavily discounted most favored nations prices. In other words, whatever
00:32the drug sells for over the world, in the world, whatever the lowest number is, if it's
00:38Germany, if it's in UK, anywhere, we will match that price. Right now, sometimes it's 10 times
00:49higher. We've been laughed at and scoffed at for years, for years. In fact, I was going
00:54to do it in my first term, but unfortunately, with the advent of COVID, as you would say,
01:02it was not, I don't think it was a very good time to be hitting up Spain, Italy, France,
01:08but now we're doing it. So, the hardest thing to do was going to be to get a country to do
01:14it, because we would have a pill in New York that was for sale for $130, and you could buy
01:21it in Germany, and France, and Spain, and someplace, anyways. They set their own prices for $10.
01:29So, we'd pay 10 or 13 times more, pay five times more, pay all different prices. Now, whatever
01:35the lowest price is. Now, the pharmaceutical companies were difficult, but they also love
01:41our country. They knew it was unfair. But the, and they were great. I appreciate it. But the
01:48bigger problem was going to be the countries. How are you going to get the countries to do
01:51it? And we told them, if you don't do it, we're going to have to use tariffs, and we're
01:57going to charge you a 10 percent tariff, which is far more money than the money we're talking
02:01about. And they immediately agreed to do it. So, we have all the foreign countries agreeing
02:07to do it. If we didn't have the use of tariffs, we would never be able to do this. But we used
02:13tariffs. And they said, is it a threat? I said, yes, it is a threat. And they said, we will
02:18do it. And they dropped the price. So, what's happening, because the world is bigger than
02:22the United States in terms of people, that same pill would go from $10 to $20 for them,
02:29which is an increase. But it wouldn't go to, you know, midway. But it would go from $10 to
02:35$20. Ours would go from $130 to $20. So, we dropped way down. They went up a little bit.
02:43And everyone knows the way it is. They, for years, would just say, no, no, no, as medicine
02:50got more expensive for us, it would stay. They said, nope, you can't sell it in this country.
02:55Let the United States pay. And we had other presidents, all of them, said, okay, we'll pay.
02:59So, we were subsidizing the entire world. We're not doing it anymore. This is the biggest thing,
03:05having to do with drugs and the history of the purchase of drugs.
03:10And I don't think the maybe press will treat it as a story. This is the biggest front page
03:16story that you'll ever see. This is a huge, this is a huge bearing, too, on the healthcare,
03:23because a big part of healthcare is drugs. Pharmaceuticals, right, Oz? And this, so this
03:28will have a tremendous impact on the reduction of healthcare. The biggest impact is going to
03:34be that the money should be paid, not to the insurance companies, directly to the people
03:38and the people who buy their own healthcare. So, we're going to be working that. The problem
03:42is that the Democrats are very much controlled by the insurance companies that make all that
03:47money, but we're not going to let that happen. Starting next year, American drug prices will
03:52come down fast and furious, and will soon be among the lowest in the developed world. So,
03:57in other words, the lower, whatever the lowest price for a certain drug, of which these companies
04:03make much of it, whatever the lowest price is, Oz, that price will come down to that price.
04:11So we will get the lowest price anywhere in the world. If they're lower in England than
04:14they are in Germany, we take the England price. As of today, 14 out of 17 largest pharmaceutical
04:22companies have now agreed, 14 out of 17, oh, those three companies, oh, they're in deep trouble.
04:32But actually, they've agreed, because I think those three companies are coming in at a different time,
04:37next week. So they've agreed. Johnson & Johnson is one of them, right?
04:40After the holidays.
04:41What, why? They couldn't do it faster?
04:43No, we're going to be talking about Trump Rx.
04:46Oh, okay. Trump Rx. Trump Rx is doing well. As of today, 14 out of the 17 largest pharmaceutical
04:52companies, but they've all agreed, have now agreed to drastically lower drug prices for
04:59their American patients, for the American people and patients. This represents the greatest victory
05:04for patient affordability in the history of American healthcare by far. And every single American will
05:10benefit. So this is the biggest thing ever to happen on drug pricing and on healthcare.
Comments