In a recent interview, President Trump mentioned that his peers, who shared an anecdote he discussed, are glad to have released his light-hearted letter while unveiling significant changes in pharmaceuticals on Monday.
During a White House event, Trump poked fun at an unnamed “very nervous and amazing businessman” who was dissatisfied with the cheaper “fat shots” available abroad.
“He’s quite pleased. He knows exactly who I’m referring to,” Trump told Sean Hannity of Fox News in an interview aired on Tuesday evening.
“He called me and said, ‘It was funny.’ He expressed concern that I might accidentally reveal his name, but he really doesn’t need to worry,” Trump added.
The president described the story as “good” for the public, humorously exaggerating his friend’s size, saying he was “a little overweight,” which he phrased delicately.
While announcing an executive order aimed at lowering U.S. drug prices, Trump recounted their conversation: “I’m in London. I just paid for this weighty drug… in the U.S., I’d be paying $1,300. In London, I said I only paid $88.”
In an interview recorded by the Air Force on Monday evening, Trump admitted he didn’t know what specific drugs his friend had bought but speculated it could be “maybe an Ozempic.”
“He called me and said, ‘Something strange happened. I bought some medication. Same company, same plants, everything identical. Yet, I paid $1,300 in New York,’” Trump recounted.
He added, “I said: ‘Yes. The drug laws are a mess, and I’m working on it.’”
The president signed what he referred to as “the most important order” for drug pricing reform on Monday morning before heading out on a three-stop trip to the Middle East.
This new policy aims to revitalize the “most favored nation” program from Trump’s first term. It will empower federal health regulators to use rulemaking and government procurement to pressure pharmaceutical companies into aligning their prices with those charged overseas.
The order directs U.S. trade representatives Jamieson Greer and Commerce Howard Luttonick to “take all necessary actions against unreasonable and discriminatory policies in foreign countries that lower drug prices.”
Health professionals have criticized “freeloading” by other developed nations, which, according to them, artificially suppresses drug prices. This results in U.S. consumers paying more to offset the costs for research and development.
According to a survey by RAND Corporation, developing new drugs costs an average of $1.3 billion, particularly when factoring in products that do not make it to market.
In essence, foreign countries enjoy lower drug prices without shouldering the costs associated with the lower success rates of drug development.
“Despite the U.S. making up only 4% of the world’s population, pharmaceutical companies earn more than two-thirds of their profits in the U.S.,” Trump explained this situation on Monday.
