- 8 hours ago
President Trump makes an announcement on lowering drug prices — 12/19/2025
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00:00Okay, thank you very much. Wow, what a group of people. They make a lot of money. It's a hell
00:10of a group. How are you? Pleasure. It's a great honor. These are among the greatest
00:29executives anywhere in the world. So it's an honor to have them with us. And I think they'll be very
00:35happy about what we have to say. I thought I'd start by announcing two things. This is the gold
00:41card, as you know, the Secretary of Commerce and myself and some others have been working on it
00:48for quite a while. And Howard, how much have we sold in a few days? $1,300,000,000 worth in a matter
00:57of a couple of days? That's a, essentially, it's the green card on steroids. And it's a pathway.
01:06And it's been an amazing thing. And as you know, millions of people pour into our country from the
01:12border. And not anymore, they don't know, nobody comes in actually anymore. But under the Biden
01:17administration, 25 million people came in. And they came from prisons and mental institutions,
01:24and they were drug dealers, and all sorts of people came in that shouldn't be here. They came
01:28from the jails. The jails all over Venezuela, all over the world, the Congo. And now when they come
01:36in, they have to pay a million dollars. And we've had a tremendous surge. And you're going to be happier
01:41than anybody, because when you go to Harvard and the Wharton School of Finance and all of the great
01:47schools, and you want to hire somebody, and then you find out that, I'm sorry, they can't stay in our
01:50country for more than 24 hours. They graduate from the top schools. These people want to hire
01:56them. Now you're able to buy a card, and you're able to keep people in the country. They can't keep
02:02people in the country. And they go to Canada, they go to other countries. A lot of times they go to
02:08Canada, even though they work for the companies behind me. So now you're able to buy, the companies
02:14are able to buy the card and use it for people coming in to our country so they can stay in our
02:23country instead of being immediately shipped out after graduating number, they graduate number one
02:28in their class at the best school. And they want to go to work for Johnson & Johnson, as an example,
02:34who's not here today, who will be here next week. They're well represented here. But they want to go to
02:39work for one of the great companies behind me. And you learn they can't do that because they're shipped
02:45out of the country. They're not shipped out anymore. So your company will pay a little bit, but that's
02:52okay. You'll be able to get them. So I just want to let it go. It's called the gold card, the Trump gold
02:58card. Quite a beautiful thing. And you've taken in, in just a few days, you've taken in over a billion and a half
03:05dollars. That goes all toward reducing debt, goes into the treasury of the United States. And
03:10I thought I'd do this before we start on most favorite nations. I want to read this because I
03:17would have said it the other night, but I was not allotted too much time, actually. You had a couple
03:22of brand new shows opening and I understand that. But I do want to say, and some people say, oh, you
03:28shouldn't say it sounds negative to me. I think it sounds positive. The only reason our unemployment
03:33tucked up and went up to 4.5%, which it went up to 4.5%, which is quite a low number, but
03:41still, is because we are reducing the government workforce by numbers that have never been seen
03:48before. In other words, government jobs are way down. And as you know, we don't need 10
03:55people to fill one job, which is what we had in government in many cases. So the government
04:00workforce by numbers that have never been seen before has been reduced very substantially and
04:07will continue to be reduced. 100% of our new jobs are in the private sector. So this is for the last
04:16number of months. Think of that. 100%. Are you shocked to hear that? That's the way to make America
04:23great again when you think, right? It's the only way. 100% of new jobs are in the private
04:29sector. And I could reduce unemployment to 2%, 1%, or practically zero by just hiring people
04:39into the federal government, even though those jobs are not necessary, which is what we had
04:44before. We had millions and millions of people having jobs that they never even showed up.
04:49So I wish that the media would report that the 4.5% is an amazing number. And again,
05:00if they don't report it, I guess maybe I'll just let some people go into the federal workforce. It'll
05:06look really wonderful. And what we're doing is the only way you can do it to make a country great.
05:13You have to, you can't have the government jobs. You have to have the private sector jobs. And these
05:18are among the biggest hires of private sector. So we have reduced the federal workforce by tremendous
05:27hundreds of thousands of people. And that reflects an unemployment, but that will be used up very
05:36quickly. And we've 100% of the new jobs, which by the way, it's a record setting number of jobs,
05:42too, is in the private sector. And I think that'll get even stronger when these buildings being built
05:48all over the country, of which they're building some too, but AI and auto plants and everything
05:53else, they're being built all over the country. When that happens, your numbers will be even better.
05:58But I would like you to report it the way it is. We don't do the federal workforce jobs. We're reducing
06:05that very substantially. I'm thrilled to be joined by the leaders of nine of the world's largest
06:11pharmaceutical manufacturers, all very big names, celebrities in their own right, very, very powerful
06:20people. And they head some of the most admired companies anywhere in the world. It's a great group
06:26to announce that they've agreed to offer many of their flagship drugs, really all of their flagship
06:34drugs at heavily discounted most favored nations prices. In other words, whatever the drug cells were
06:41over the world in the world, whatever the lowest number is, if it's Germany, if it's in UK, anywhere,
06:50we will match that price. Right now, sometimes it's 10 times higher. We've been laughed at and
06:59scoffed at for years, for years. In fact, I was going to do it in my first term. But unfortunately,
07:03with the advent of COVID, as you would say, it was not, I don't think it was a very good time to be
07:11hitting up Spain, Italy, France. But now we're doing it. So the hardest thing to do was going to
07:20be to get a country to do it. Because we would have a pill in New York that was for sale for
07:26$130. And you could buy it in Germany and France and Spain and someplace. Anyways, they set their own
07:34prices for $10. So we'd pay 10 or 13 times more, pay five times more, pay all different prices. Now,
07:43whatever the lowest price is. Now, the pharmaceutical companies were difficult, but they also love our
07:49country. They knew it was unfair. But the, and they were great. I appreciate it. But the bigger
07:56problem was going to be the countries. How are you going to get the countries to do it? And we told
07:59them, if you don't do it, we're going to have to use tariffs. And we're going to charge you a 10%
08:05tariff, which is far more money than the money we're talking about. And they immediately agreed to do
08:11it. So we have all the foreign countries agreeing to do it. If we didn't have the use of tariffs,
08:17we would never be able to do this. But we use tariff. And they said, is it a threat? I said, yes,
08:23it is a threat. Then they said, we will do it. And they dropped the price. So what's happening,
08:28because the world is bigger than the United States in terms of people, that same pill would go from
08:34$10 to $20 for them, which is an increase, but it wouldn't go to, you know, midway. But it would go
08:41from $10 to $20. Ours would go from $130 to $20. So we dropped way down. They went up a little bit.
08:50And everyone knows the way it is. They, for years, would just say, no, no, no. If medicine got more
08:58expensive for us, it would stay. They said, nope, you can't sell it in this country. Let the United
09:03States pay. And we had other presidents, all of them, said, okay, we'll pay. So we were subsidizing
09:08the entire world. We're not doing it anymore. This is the biggest thing having to do with drugs
09:13in the history of the purchase of drugs. And I don't think there may be press will treat it
09:20as a story. This is the biggest front page story that you'll ever see. This is a huge,
09:26this is a huge bearing too on the healthcare, because a big part of healthcare is drugs,
09:33pharmaceuticals, right, Oz? And this, so this will have a tremendous impact on the,
09:38reduction of healthcare. The biggest impact is going to be that the money should be paid not
09:43to the insurance companies, directly to the people and the people who buy their own healthcare.
09:48So we're going to be working that. The problem is that the Democrats are very much
09:52controlled by the insurance companies that make all that money, but we're not going to let that
09:56happen. Starting next year, American drug prices will come down fast and furious and will soon be
10:02among the lowest in the developed world. So in other words, the lower, whatever the lowest price
10:08for a certain drug of which these companies make much of it, uh, whatever the lowest price is,
10:15uh, that price will come down to that price. So we will get the lowest price anywhere in the world.
10:20If they're lower in England than they are in Germany, we take the England price.
10:24As of today, 14 out of 17 largest pharmaceutical companies have now agreed 14 out of 17. Oh,
10:35those, those three come though. They're in deep trouble, but actually they've agreed because I
10:41think those three companies are coming in at a different time next week. So they've agreed Johnson
10:47and Johnson is one of them, right? After the holidays. What, why they couldn't do it faster?
10:51No, we, uh, we're going to be talking about Trump RX. Oh, okay. Trump RX. Trump RX is doing well as of
10:57today, 14 out of the 17 largest pharmaceutical companies, but they've all agreed, have now
11:02agreed to drastically lower drug prices for their American patients, for the American people and
11:09patients. This represents the greatest victory for patient affordability in the history of American
11:14healthcare by far. And every single American will benefit. So this is the biggest thing ever to
11:20happen on drug pricing and on healthcare. This will have a tremendous impact on healthcare
11:27itself. I want to thank Sanofi CEO, Paul Hudson, Paul. Hi, Paul. I hope they have you in some order. I'll be
11:38checking it out. Okay. Well, we'll do the best we can. Thank you, Paul. Great company, by the way.
11:45Novartis CEO, Vass Narasemin. Thank you very much, Vass. Great job. Genentech CEO, Ashley
11:55Megaragiri. Where are you, Ashley? How are you? Hi. Thank you very much. Great companies.
12:03Beringer Inc. Mine President, John Michael Boers. John Michael, thank you very much.
12:17Gilliad CEO, Dan O'Day. Thank you, Dan. That's a good company. Bristol-Myers Squibb Executive Vice
12:27Vice President, Kerry Gallman. Kerry? Thank you, sir. Thank you very much. GSK CEO, Emma Wormsley. Emma?
12:40Thank you very much, Emma. Great job. Merck CEO, Rob Davis. Great company. Thank you. Great company.
12:49How long have you been CEO? Almost five years. Very good. You're doing a good job.
12:53And Amgen Executive Vice President and CFO, Peter Griffith. Peter? Thank you, Peter.
13:04Thank you very much. Thank you very much. You okay? Fake news.
13:12We want you to be healthy. Are you all right?
13:15The camera's not okay, but she's okay. That's more important.
13:21We have good medicine for you. If you need some medicine, one of them can take good care of it.
13:26We're also joined by Secretaries Robert F. Kennedy, Jr., Howard Lutnik, Ambassador, and really some incredible ambassadors.
13:35Administrator of the Centers for Medicare and Medicaid Services, Dr. Mehmet Oz, and the FDA Commissioner, Marty McCary.
13:47They're doing a phenomenal job. Thank you. Thank you, fellas. Good job.
13:51For decades, Americans have been forced to pay the highest prices in the world for prescription drugs, by far.
13:57By far, not just a little bit. We were like a whipping post, the United States, and it's just been 4% of the world's population.
14:07We have 4% of the world's population, and consumers pay only 13% of all prescription drugs, yet pharmaceutical companies make 75% of their profits.
14:20Think of that. So we have 4% of the population, 13% of prescription drugs,
14:26and yet the people behind me, who are wonderful people, make 75% of their profits from the American customer.
14:35So that was, they understood that better than anybody, that we have to do something.
14:40That's why I signed an executive order instructing my administration to do everything in its power to slash prescription drug prices for Americans while getting other countries to pay more.
14:51And we don't want more. We want this fair. We want to pay the same thing.
14:55And they used to blame it, remember, on research and development.
14:59And I said, well, research and development for everybody.
15:03And everybody understood.
15:04And as a result, the United Kingdom's National Health Service agreed to pay the fair share for prescription drugs for the first time in 26 years.
15:13And we expect other countries in Europe will do the same.
15:17And if they don't, we're going to put tariffs on them, and we'll get the same amount of money.
15:20Plus, we'll take a nice return on the money.
15:23We signed historic agreements with Pfizer, Eli Lilly, AstraZeneca, Novo, Nordisk, and EMD, Serrano,
15:33to reduce prices by 300, 400, 500, 600, and even 700 percent, and sometimes even more than that.
15:41I remember when I had a news conference in my first term.
15:44I was the first president that reduced prices from the beginning of my term to a year, from January to December.
15:54One quarter of one percent.
15:57And I thought it was the greatest thing, because it's the first one in 28 years.
16:01Now we're talking about numbers that are so incredible.
16:06One quarter of one.
16:07Think of that.
16:07I was proud of it, because it hadn't happened in 28 where drug prices went down.
16:12Well, now you're going to see numbers that nobody would believe possible.
16:15Think of that.
16:16500, 600, 700, 800 percent.
16:20Today we're building on these accomplishments.
16:22The companies assembled in this room have agreed to offer all of their drugs to Medicaid and Most Favored Nations pricing.
16:30You're going to get Most Favored Nations pricing, meaning they're going to pay our country the lowest price paid anywhere in the world.
16:39And they will list their most popular drugs on TrumpRx.gov.
16:45TrumpRx.gov.
16:47And I didn't name it that.
16:48Somebody named it that.
16:49And I guess they assumed that was, did you name it, Oz, or Bobby, name it?
16:54We all named it together.
16:56Okay, well, I'm honored to have the name.
16:59And so far that's turned out, because the numbers are so incredible.
17:03It's an honor.
17:05And you're going to get massive discounts to all consumers.
17:10And so massive discounts will be not even offered.
17:14It's just going to be a fact.
17:16All consumers will get massive discounts.
17:20That's TrumpRx.gov.
17:22Every new drug produced by these companies in the future will permanently be offered to American patients at most favored nation prices.
17:31You know, people used to talk about that for years, but nobody ever did anything about it.
17:36No other president did.
17:38And it wasn't easy, but it worked out great.
17:42And I'm so proud of the people behind me.
17:43As an example of the price reductions we have secured through these new agreements, Santa Fe will cut the cost of its blood thinner, Plavix, from $750 to less than $16.
18:00Wow.
18:02Where's Santa Fe?
18:03Where are you?
18:03What?
18:04That's incredible, huh?
18:06Could have gone to $17.
18:09That's amazing.
18:10And you're going to do tremendous business.
18:12You're going to do much more business.
18:14So that's coming from $750.
18:17Think of that.
18:18$750.
18:20And that's the number one blood thinner.
18:23I don't want to know about that.
18:24I take an aspirin.
18:27To less than $16.
18:29Think of that.
18:30Bristol Myers Squibb, a great company.
18:32Both great companies.
18:33We'll cut the price of HIV medication, Rayurtaz, from nearly $1,500, $1,500 to $217.
18:48And it will cut the cost of hepatitis B medication, Bariclude, from $1,400 to $413.
19:00Gilead will cut the hepatitis C medication, Epilusa, from nearly $25,000 to less than $2,500.
19:13And all prices are like that, because we're bringing them down to the world's lowest price.
19:22Everything.
19:23And these people really are pioneers.
19:25What they're doing is so great.
19:27And in the end, they're going to do much more business.
19:30And I think it's going to even out for them as a company.
19:34The other countries, the countries will have to pay more.
19:37But even for them, because of the fact that the world is quite a bit bigger, it won't be very severe, I hope.
19:43I also want to thank these companies and their incredible executives for their generous contribution to American national security,
19:52because it's really what it is.
19:53It's, to a large extent, national security in addition.
19:56You can't continue to pay 13, 14 times more than other countries and think you're going to have security.
20:02Collectively, they will invest over $150 billion to build up domestic pharmaceutical manufacturing in America.
20:11They're going to be, because of tariffs, they're coming in.
20:15And I think because of the love of our country.
20:17It may be because of the November 5th election.
20:20But because of tariffs, they're going to be coming in.
20:22They're building already.
20:23They've all, just about all of them have started.
20:26They're building their plants in all states all over the country, and they're building incredible pharmaceutical plants.
20:35We're going to have close to 100 percent of our pharmaceuticals in a very short period of time made in the USA.
20:41As part of these agreements, Merck will also donate 3.5 tons of antibacterials to be placed in America's strategic reserve.
20:52Thank you very much.
20:53GSX will donate over 200 pounds of ingredients to make rescue inhalers, which is a big deal.
20:59And Bristol-Myers Squibb will donate 6.5 tons of blood thinners.
21:06We appreciate it.
21:08Such amazing companies.
21:10Every president for a generation has promised to reduce drug prices.
21:14But they were talking about a little bit like that.
21:17I am the only one of them to ever even think in terms of favored nations.
21:23And that's what this is.
21:24Favored nations.
21:25It's called Most Favored Nation.
21:27We are now a most favored nation.
21:30I want to thank the leaders in the room.
21:32And I also want to thank the leaders of all of the countries that had to pay a little more so that we were treated fairly.
21:41I really do.
21:42I want to thank the leaders of countries.
21:46And they knew the alternative was not much of an alternative because if they didn't do it, we were going to charge them tariffs.
21:52And the tariffs would have been much more severe than what they did.
21:55But they did do it.
21:57As soon as they realized about the tariffs.
21:59Then they did it very easily.
22:01Now they're very good people.
22:03Let's start with Amgen's executive vice president, who I already introduced.
22:08And I introduced the people here.
22:09So I'd like to ask Bobby and Oz to say a few words.
22:12And also I'd like to ask if anybody would like to speak on behalf of your company.
22:19Or just say how great this country is doing.
22:22And you're all building tremendous facilities now in the United States instead of other countries that we all know about.
22:29But if you'd like to say something.
22:31So Oz, do you want to start?
22:32And Bobby?
22:35Thank you, Mr. President.
22:36Thank you very much.
22:37Mr. President, he gets taller with time.
22:42Mr. President, each of these nine CEOs will speak very briefly about what they have done because it is a patriotic effort.
22:49This is affordability in action.
22:51We talk about it in abstract, but this is not an abstract concept.
22:54This is a very concrete, tangible, personal reality.
22:58Because we've got moms with sick children who cannot afford their medications.
23:02Working families cannot make ends meet.
23:04Seniors on fixed income.
23:06We have 80 million people have to pay more than $100 a month for their prescriptions.
23:10They just can't keep up.
23:11So this is a hardcore approach to this, driven by a bold leader who's taking bold action.
23:17With that bold action, we've now created a standard for the industry.
23:20The nine leaders behind us run the biggest pharmaceutical companies in the world.
23:25They're joining four other, rather five other companies that have been through this White House process over the last two months.
23:33I want to make sure you appreciate that it doesn't happen with just the people in the room.
23:36There are wonderful individuals, Chris Klump, Inma Hernandez, John Brooks, Theo Merkel, Corey, Heidi.
23:41A lot of folks worked their tails off to make this happen, and that's why we've gotten to the finish line.
23:46The prices that President Trump left to the next administration on pharmaceuticals have gone up 25% until the president took office.
23:56We are reversing that trend and making sure that Americans can afford to get the life-saving solutions.
24:01Because if these brilliant innovators create solutions to cancer, hypertension, hepatitis, and a bunch of other viruses,
24:08illnesses that have been lethal throughout human history, but you can't afford them, then we're not treating you fairly.
24:15And that's why what the president has done is so critically important.
24:19He mentioned quickly the amount of money that they've contributed towards our strategic stockpile and to building in this country.
24:25But fundamentally, the health of the American people will benefit because this president took bold action.
24:30And from my personal position, I couldn't do anything I do without Secretary Kennedy, who just does not take no for an answer,
24:37and will call me even more than the president does to make sure things happen right.
24:40Mr. Secretary.
24:41Even more.
24:42That's not nice.
24:43I don't think that's true.
24:45I think we got a lot of calls from the president.
24:47And at one point in this negotiation, we both stopped answering our phones late at night because we couldn't take it anymore.
24:55But I want to thank you, Mr. President, for doing this.
24:59President Trump, when he was up here a moment ago, talked about how historic this is
25:04and how every one of the news outlets in here ought to have World War III-sized headlines about this.
25:12And I was reminded about how astonishing this achievement is a couple of days ago when one of my sons, 29 years old,
25:23very, very left-wing Democrat, and disagrees with a lot of the policies to add.
25:29And I want to tell you how proud I am about this.
25:31This is the best achievement that could happen to our country.
25:35This is something Bernie Sanders has been clamoring for for 25 years.
25:40Elizabeth Warren has been clamoring for.
25:42Joe Biden promised to do this for the American people, President Obama, President Clinton, all promised to do this for the American people.
25:50All of them expressed their outrage, their indignation, that we are paying one-tenth in some cases the price of drugs that they're selling in Europe.
26:00We developed them here, we manufactured some of New Jersey, we were paying $1,300 for a drug,
26:08manufacturing in New Jersey the same drug, manufacturing the same plant, was being sold for $88 in London.
26:15And everybody recognized how unfair this was.
26:18We were paying for all the innovation in this country.
26:21And yet, the rest of the world was free-riding on it.
26:27And President Trump told me and Dr. Haas at the beginning of this term,
26:33this is what I want you to do.
26:35And he leaned on us.
26:38I think both of us were very skeptical at that point that it could be done.
26:43But I would say this is a miracle.
26:46And I'm very grateful to all the CEOs who saw the sense in this,
26:52who understood the injustice and the unsustainability of the system,
26:57and who put public health, and particularly the public health of Americans,
27:01ahead of some of their other priorities.
27:04And all of them came to the table.
27:06And President Trump asked us to do three things.
27:10One, to deliver the lowest prices in the world and make this affordable for Americans.
27:15Number two, to do it in a way that we would not hurt innovation,
27:20that we would keep America as the incubator and the dominating forces in innovation around the world.
27:29And three, to bring drug manufacturing home to this country.
27:34I can tell you, by the end of this term, 95% of the drugs, we will have MFN.
27:39In other words, Americans will be paying the lowest price in the world, 95% of the drugs.
27:47You talk about affordability.
27:49People are talking about affordability.
27:51Nobody has done anything for affordability greater than this.
27:56So I want to thank you, President Trump, for your leadership, for your vision,
28:00and for your relentless harassment of us to make sure this all got done.
28:05And I really want to talk to, just thank all of the CEOs, all these companies,
28:11for coming to the table in good faith, working out a very, very pragmatic agreement
28:17that allows them to continue to do the innovation that is going to save lives
28:23and alleviate suffering around the world and do it in a way that is more fair to the American people.
28:30So this is an example of what President Trump does.
28:39It's the entire administration, the whole government working together.
28:43Bobby and I met at the beginning of the administration of how we could work together
28:47to bring drug prices down, as the president instructed, and bring manufacturing home.
28:54So they've said they're going to have 95% of the drugs be at the lowest price in the world.
29:00And when we walked in and the president walked in,
29:03we were making about 16% of our drugs were being made in America, right?
29:09And we are having hundreds.
29:11The people behind us have committed hundreds of billions of dollars
29:14to bring their manufacturing here and bring their research here.
29:18And that employs Americans and keeps our drugs produced safely.
29:24You want to know when you take that drug?
29:26That drug is made in America, overseen by the FDA, and it is safe.
29:32So the president not only is driving prices down,
29:35he's doing a one-two punch of bringing production here.
29:38And the third thing he's doing is when you take that drug,
29:41you know it was made in America, protected by Americans, and it's safe.
29:46And I can't be more proud, I think this is the most impressive thing I've ever seen,
29:50because none of you, and even maybe, even none of us thought this was possible.
29:54Only President Trump, he knew it, he drove it, and he has delivered it here today.
29:59And I can't be more proud to be standing next to him,
30:02because this is delivering for America.
30:05Very good.
30:07What's up with that, Jen?
30:08It is alphabetical.
30:09If you'd like to say something, feel free to do that.
30:12They're all going to say something short, so go ahead.
30:14Thank you, Mr. President.
30:17Mr. President.
30:19To the podium.
30:20To the podium.
30:21Here we go.
30:21We're going to move it back up, get taller again.
30:23Mr. President, thank you for the opportunity to work with you
30:27to improve the affordability of medicines for American patients.
30:30Amgen recently launched Amgen Now,
30:33a direct-to-patient option for Repatha that cuts out PBM middlemen
30:37and significantly improves affordability for people who are uninsured,
30:43facing high out-of-pocket costs, or paying on their own.
30:47Repatha will also soon be added to TrumpRx.com.
30:52A U.S.-based pioneer for more than four decades,
30:55we've invested more than $40 billion in U.S. research and manufacturing since 2018,
31:01supported by pro-innovation policies that you've championed.
31:07Thank you again, Mr. President.
31:09We look forward to continuing to work together
31:11to deliver meaningful benefits and innovation for U.S. patients.
31:17Thank you very much.
31:18Thank you, Mr. President.
31:24Jean-Michel Boers from Boering and Ingelheim.
31:26It's a true honor to be here for an agreement
31:29that we believe will make a true difference for American patients.
31:34For 140 years, Boering and Ingelheim, a family-owned company,
31:38has been committed to improving health and outcomes to save lives of patients.
31:44With today's agreement, we believe that we have actually struck the delicate balance
31:49that there is to protect America's leadership in research and innovation
31:53and at the same time ensure that patients pay a fair price for their medicines.
31:58So from rare diseases in oncology or pulmonary fibrosis
32:01where we do research into chronic diseases, diabetes, chronic kidney disease,
32:07obesity maybe in the future.
32:09I will go quick.
32:10We will continue to work for the American patients.
32:14We are onshore and manufacturing to the U.S.
32:16to very rapidly within the time of this administration
32:19have the majority of our products produced in the U.S.
32:21Thank you, Mr. President.
32:23Thank you, Mr. President.
32:28Bristol-Myers Squibb is an American company that for more than 6,500 years
32:32has been protecting and extending American lives.
32:35And today I'll make two very brief announcements.
32:37One, we are very proud to announce that we will provide Eloquist,
32:41our number one prescribed medicine, to Medicaid for free.
32:45We're also answering the administration's calls, as the president said,
32:55to shore up the national medicine reserves by donating more than 6 1⁄2 tons of Eloquist.
33:00These actions build on BMS's commitment to invest $40 billion in the U.S.
33:06in research and development and manufacturing.
33:07And these investments reflect our enduring commitment to work with the administration to improve patient lives.
33:13So thank you.
33:15It is incredible.
33:16Thank you, Mr. President, for shining a light on the importance of our innovation
33:23and getting all countries to be A for this innovation.
33:28I'm proud to represent Genentech, America's first biotech company.
33:32We are offering our flu medicine, which is very important this year, given the severity of the flu,
33:41Zofluza, for $50 direct to patients.
33:45And that's a 70% price reduction.
33:48And that also will be available on TrumpRx.
33:51We're also very proud of our $50 billion investment in U.S. manufacturing and new research labs.
33:58Our new facility in North Carolina will bring 11,000 jobs to America.
34:07These are important steps forward for Americans and also for patients.
34:12Thank you very much.
34:13I see your rendering is beautiful, what you're building.
34:15Thank you very much.
34:19Thank you, Mr. President, to you and the administration.
34:22I think this objective of achieving the commitment to affordability and future innovation is extraordinary.
34:27And let me just say that the company I represent, Gilead Scientist, the scientists reach for cures every day.
34:33In fact, they've come up with medicines that have cured both certain forms of hepatitis and also certain forms of blood cancer.
34:40And we just recently launched a new medicine that's only given twice a year to prevent HIV.
34:46And we're working with Secretary Kennedy and his entire team, as well as the State Department,
34:51as a part of your ex-U.S. strategy to support ending the epidemic really during your term.
34:59And so we look forward to working with you on that.
35:01I've never been more optimistic about the innovation that exists across these companies
35:07and the impact this can have on America's health and economy.
35:11Thank you very much.
35:11It's going to be well with HIV.
35:13Yeah, it literally prevents HIV almost 100% given twice a year.
35:19And so the America First State Department strategy, we've partnered with them,
35:23and we're also partnering with Secretary Kennedy and his team.
35:26Thank you very much.
35:27Thank you very much.
35:27Thank you very much.
35:57Thank you very much.
36:27who says if her asthma inhaler is cheaper, she can properly celebrate with her family this holidays.
36:34Mr. President, thank you so much for your ambition for American patients
36:39and for the partnership of all of your teams so we get ahead of disease together.
36:43Thank you very much.
36:45Very much.
36:46Great company.
36:47Mr. President, as the others have said, I just want to say thank you for your leadership.
36:52I reflect on your goal of driving affordability and access to Americans,
36:57but equally getting prices up outside the United States, and we're 100% supportive of your actions.
37:02As many of the colleagues have talked about, I represent Merck, and we also are looking to what we can do on trumprx.gov.
37:10In addition to bringing in our diabetes drugs, one of the things I just wanted to highlight,
37:14we have a novel oral cardiovascular drug, which has an opportunity to meaningfully lower LDL
37:21and really still go after what is the leading cause of death in the United States,
37:25which is cardiovascular disease.
37:26It kills a million people in the United States annually.
37:28And thanks to trumprx.gov, you will not only be able to get this pill and have an easy-to-take pill,
37:35but it will be easy to get and it will be affordable.
37:37So I appreciate your leadership and look forward to continuing to partner with you.
37:41Great company.
37:42Thank you very much.
37:45Mr. President, my name is Vastner-Simon, CEO of Novartis.
37:49Novartis is a 250-year-old company, and today we're the global leader in bringing advanced technologies
37:54to patients in the United States around the world,
37:57technologies like radioligand therapies and cell and gene therapies.
38:00What I want to highlight to you is we're bringing the manufacturing of these technologies to the United States now.
38:05We've committed to build nine new facilities, seven of them we already have a groundbreaking for.
38:11Dr. Macari was with me in North Carolina.
38:13We were opening up four new plants.
38:15Our plan is to scale manufacturing here and ensure all our critical medicines,
38:19including these most advanced technologies, are made here in the United States for U.S. patients.
38:25Thank you very much.
38:27So, first of all, thank you, Mr. President.
38:33I think you've convened on an extremely important subject
38:36and made more progress than perhaps anybody ever thought was, frankly, possible.
38:42For Sanofi, this is another day to reaffirm our commitment to patients,
38:47our unwavering support to trying to do the right thing to help patients get better outcomes.
38:51Put simply, affordability has been at the heart of that for a very long time.
38:56Having concluded this contract with the President and the Administration,
39:02we find ourselves able, as a joint effort, to go further than we ever thought was possible.
39:07And that's kudos to you and for what you have done.
39:10Improving affordability and preserving innovation and rewarding innovation is a very difficult balance to take.
39:19I think we feel the negotiations and the conversations have had the patient at the centre throughout the entire time,
39:27as difficult as it may have been on occasions.
39:30I think what many can learn from the way this was handled put simply is that when you bring industry
39:36and you bring government together with the spirit of doing the right thing for patients,
39:42it is almost limitless what can be achieved.
39:45So, on behalf of Sanofi, I'd like to thank you, Mr. President,
39:48and the team for what has been simply an incredible amount of progress.
39:53So, as I watch, these are the greatest business leaders, and they're beyond that.
40:03Many are doctors, and they ended up running the biggest businesses in the country.
40:07But you've done so much, and you made it a lot easier than we thought it would be.
40:13You understood to do the right thing.
40:17And as I was watching, and I know all of them, not personally, a couple of them personally,
40:21but I know them all through reading lots of business magazines and other magazines and newspapers.
40:27These are highly respected people.
40:29And I said to myself, you know, look at what they've done.
40:32They've done something that, and as you said, something that you never thought was possible to get done.
40:37Most people thought for the United States to have favored nations,
40:41where we have the lowest drug price in the world, is unthinkable.
40:45And I said to myself, you know, we have a thing called the Unaffordable Care Act.
40:49It's unaffordable because the insurance companies make so much money,
40:53and the insurance companies totally control the Democrats.
40:56And I said to myself, standing watching these great leaders, and we have four other leaders coming in,
41:01Johnson & Johnson and four other very big companies, actually, very great companies.
41:06They've all agreed, and they'll be coming in next week, and we appreciate them too.
41:10But they've agreed to the same thing, lowest price anywhere in the world.
41:15I said, you know, I think that the insurance companies, we should have a meeting and we should talk to them.
41:22Because I would say that maybe with one talk, they would be willing to cut their prices by 50, 60, or 70 percent.
41:30They've made a fortune.
41:32They've had stock prices that have gone up 13, 14, 15, 16, 17, and even 18.
41:41Think of this.
41:42They went up 1,800 percent.
41:43One of them went up numbers that nobody's ever seen before.
41:46There's a nice return, not a 2 percent, an 1,800 percent return.
41:50One went up more than that.
41:51And therefore, there's a lot of fat that can be cut.
41:56And I'd like to announce here, this is just an idea that I had standing here, watching these great leaders saying that we're going to have the lowest prices anywhere in the world,
42:05something that nobody would have thought possible, and they're going to come out great.
42:09But also donating incredible different medications, medications that are world-famous medications that one or another of them make,
42:19and donating them, in some cases, for free or very, very low prices.
42:24And I said, you know, I'll bet you if I called a meeting of the insurance companies, the companies that are involved with health care costs,
42:33I would be willing to bet, I think, that they would reduce their prices very, very substantial.
42:39We could have fair health care in the country.
42:41Now, my initial thought, and this is what I want to do as of right now, this is the alternative,
42:46is that all of the billions and billions, ultimately trillions and trillions of dollars that's paid to these companies,
42:54we're going to pay directly to the people.
42:56But there's another way of doing it, and that's getting the insurance companies to ease up and to cut their pricing way, way down and stay part of the system.
43:06So I'm going to call a meeting, it could be in Florida this coming week, or it could be back in the White House the first week, not the second or third week.
43:16I'm going to call a meeting of the big insurance companies that have gotten so rich by receiving money and really much, far, far more money than they're entitled to.
43:27And I have a feeling maybe if they would act like these incredible, brilliant, responsible citizens behind me,
43:35people that love our country, and they love the world, I mean, frankly, they love, these are international companies for the most part.
43:44I'm going to call a meeting of the insurance companies, and I'm going to see if they get their price down, to put it very bluntly.
43:49And I think that is a very big statement, and what happened here is the biggest statement of all, because nobody thought a thing like this was possible.
43:57And I think based on that, I won't even take questions today, because there's no way I can take questions that are anywhere comparable to what you just witnessed.
44:04You just witnessed drug prices that will go down at levels never thought even possible, Marty, right?
44:14Never thought even possible.
44:15And I think that the second biggest part of this meeting is going to be the fact that I'm going to call in the insurance companies that are making so much money,
44:26and they have to make less, a lot less.
44:29And maybe we can have reasonable health care without having to cut them out and let it all go awry.
44:38So we're going to be calling a meeting.
44:40It'll be either in Florida or it'll be here the first week.
44:42And I prefer not talking and asking questions only for the reason that this is such a big announcement,
44:49meaning what these people have said and what the other four companies are going to say,
44:53which is exactly the same thing, that I really don't want to soil it up by asking questions,
45:01even questions that are very fair questions that I'd love to answer.
45:04So I think we have to just stop right here.
45:09I really appreciate the fact that these companies came here.
45:13These, again, you know, a lot of the media is not aware, not really cognizant of the people standing behind me.
45:21These are the biggest executives in the world.
45:24And what they're doing today is monumental, and I want to stand it on that.
45:31And I'll see you later if you'd like.
45:33But I don't want to be asking questions having to do with anything else.
45:36I do want you to remember what I said about the 4.5 percent.
45:41We took 100 percent of the new workers was in the private sector,
45:47and we've cut tremendous numbers of government jobs.
45:51And that's why, if you look at our numbers, they're so good.
45:54Also, more than, I don't know if you've read this, came out a week ago,
45:58more than 50 percent of our trade deficit was cut.
46:02We cut it more than 50 percent in a period of a few months.
46:06Nobody thought.
46:07Nobody thought any of these things were possible.
46:10Thank you very much, everybody.
46:11Thank you about your insurance idea, Mr. President.
46:15Thank you, guys.
46:17Thank you, guys.
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