On Monday, President Trump mentioned experiencing “neuroticism” and shared an interesting story about a wealthy friend who described the cost of weight-loss medication while overseas. This conversation seemed to motivate Trump, who is often criticized for the high prices Americans face, to take action.
While signing an order aimed at significantly reducing drug prices in the U.S., Trump recounted a conversation with a business associate, though he didn’t disclose the person’s name. “My friend, a well-known businessman—very successful and, well, perhaps a bit on the heavier side—he was abroad and mentioned using fat shots,” Trump relayed to reporters at the White House.
He continued, saying, “He called me, a smart guy, very accomplished… ‘Mr. President, I’m in London and just spent a fortune on this weight-loss drug.'” Trump humorously added, “I told him, ‘Well, it must not be working.'”
According to Trump, this friend was astonished to find that the same medication he bought for $1,300 in New York was only $88 in London. “It’s the exact same box, made by the same company. How can this be?” he quoted his friend asking.
Trump speculated that while this businessman was savvy in many areas, he was taken aback by the pricing disparity in pharmaceuticals. “I brought this up with representatives from a drug company, someone I believe is quite knowledgeable. We discussed this for about half an hour, and they just couldn’t rationalize the price difference,” he mentioned.
His account stirred curiosity about who he might be referring to. Elon Musk, known for his wealth and affinity for innovative solutions, has openly spoken about using weight-loss drugs like Munjaro and humorously identified himself as “Ozempic Santa,” linking to a popular medication made by Novo Nordisk.
However, Trump’s discussion about his interaction suggests Musk wasn’t the individual he had in mind. “For years, they’ve defended this nonsense,” Trump stated regarding pharmaceutical companies. “They always mention research and development costs. But hey, other countries should contribute too. Those costs are ultimately for their profit.”
Under Trump’s new order, federal programs such as Medicare and Medicaid will be required to pay the same prices as those in other developed nations. He also warned that pharmaceutical companies could face antitrust actions if they don’t adjust their prices in the private market.
“Democrats are protecting big pharma,” Trump argued, despite recognizing bipartisan connections with the industry. “The U.S. holds the highest drug prices in the world—often five to eight times more compared to other countries,” he added, pointing out that pharmaceutical firms generate the majority of their earnings here, despite the U.S. having only 4% of the global population.
While it’s still unclear how this initiative will affect the private market, Trump expressed optimism that these changes “will bring equity to America,” projecting potential cost reductions between 59% and as high as 90%.
