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President Donald Trump on Tuesday unveiled a huge announcement that will likely change the quality of life for many Americans: massive discounts on prescription drug medications that will prioritize American consumers for the first time in decades.
The president announced this development in the Oval Office, surrounded by key members of his cabinet who helped achieve this deal – including Health and Human Services Secretary Robert F. Kennedy Jr. and Medicare and Medicaid Administrator Dr. Mehmet Oz.
“I’m thrilled to announce that one of the world’s largest pharmaceutical manufacturers – Pfizer – has agreed to offer countless prescription medications at major discounts in the United States as a result of the Most Favored Nation Drug Pricing order that was established earlier this year,” President Trump said.
He pointed out that, often, U.S. consumers pay up to “ten times more than other countries for drugs,” but now, “we’ll be paying the lowest price.”
The president also explained that, until now, Big Pharma sells only 13 percent of its medications to American consumers, and yet the industry extracts 75 percent of its profits from U.S. buyers.
This changes now with the Trump administration’s “critical step forward” in bringing drug prices down, according to the president’s comments:
- Pfizer, the president said, has agreed to provide some of their most popular medications at discounted prices of between 50 percent and even 100 percent,
- Drugs will be available for direct purchase on a website operated by the federal government,
- All new medications introduced will be sold at the “reduced Most Favored Nation” price,
- Pfizer will invest $70 billion in reshoring domestic manufacturing facilities.
“The United States is done subsidizing the healthcare of the rest of the world,” President Trump said.
The president’s leadership in making this deal possible for the American people was praised by Secretary Kennedy, who lauded Trump as someone with “doggedness” and “persistence” who had the courage to see it through.
“This is real leadership,” Kennedy said. “A president who has a vision.”
