WATCH HIGHLIGHTS: Trump takes on ‘Big Pharma’ and lowers drug prices with stroke of his pen

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From Fox News: President Donald Trump declared Monday that the U.S. “will no longer tolerate profiteering and price gouging from Big Pharma” as he signed an executive order implementing what his administration is calling “most favored nations drug pricing.”

“The principle is simple – whatever the lowest price paid for a drug in other developed countries, that is the price that Americans will pay,” Trump said at the White House. “Some prescription drug and pharmaceutical prices will be reduced almost immediately by 50 to 80 to 90%.”

Trump said that “starting today, the United States will no longer subsidize the healthcare of foreign countries, which is what we were doing. We’re subsidizing others’ healthcare, the countries where they paid a small fraction of what for the same drug that what we pay many, many times more for and will no longer tolerate profiteering and price gouging from Big Pharma.”

“Even though the United States is home to only 4% of the world’s population, pharmaceutical companies make more than two thirds of their profits in America. So think of that with 4% of the population, the pharmaceutical companies make most of their money. Most of their profits from America. That’s not a good thing,” Trump continued.

President Trump not only signed the executive order Monday morning, but he also announced the legislation for the drug pricing cuts will be included in the “Big Beautiful Bill” that is being considered by Congress.

CLICK HERE to read a Fact Sheet released by the White House. Below is an excerpt:

  • The Order directs the U.S. Trade Representative and Secretary of Commerce to take action to ensure foreign countries are not engaged in practices that purposefully and unfairly undercut market prices and drive price hikes in the United States.
  • The Order instructs the Administration to communicate price targets to pharmaceutical manufacturers to establish that America, the largest purchaser and funder of prescription drugs in the world, gets the best deal.
  • The Secretary of Health and Human Services will establish a mechanism through which American patients can buy their drugs directly from manufacturers who sell to Americans at a “Most-Favored-Nation” price, bypassing middlemen.
  • If drug manufacturers fail to offer most-favored-nation pricing, the Order directs the Secretary of Health and Human Services to: (1) propose rules that impose most-favored-nation pricing; and (2) take other aggressive measures to significantly reduce the cost of prescription drugs to the American consumer and end anticompetitive practices.

CLICK HERE to view the full Executive Order Trump just signed Monday morning.

In his press briefing Monday morning, Trump shared an account from a friend of his, who noted that a drug he has to pay $1,300 for in New York, he can get for only $88 in London.

“Starting today, the United States will no longer subsidize the healthcare of foreign countries… and we’ll no longer tolerate profiteering and price gouging from Big Pharma,” President Trump declared.

“For the first time in many years, we’ll slash the cost of prescription drugs, and we will bring fairness to America,” Trump announced.

Trump noted that drug prices are as much as 8 to 10 times higher in the United States than in other countries, and said that stops now.

“For years, pharmaceutical and drug companies have said that research and development costs were ‘what they are.’ And for no reason whatsoever, they had to be borne by America alone — not anymore they don’t.”

“We are going to pay the lowest price there is in the world. Whoever is paying the lowest price, that is the price we’re going to get — so we’re no longer paying ten times more than another country,” Trump announced.

HHS Secretary Robert F. Kennedy Jr. said, “We now have a President who is a man of his word, who has the courage… he can’t be bought, unlike most of the politicians in this country — and he is standing here for the American people.”

“Elizabeth Warren or Robert Reich are saying that President Trump is on this side of the oligarchs. There has never been a president more willing to stand up to the oligarchs than President Donald Trump!” Kennedy said.

“I have a couple of kids who are Democrats, big Bernie Sanders fans, and when I told them that this was going to happen they had tears in their eyes,” Kennedy explained.

“Medicaid costs are going down and Medicare costs are going down because of what we’re doing today,” President Trump said.

In a Truth Social post after signing the bill, President Trump wrote:

This week the Republicans are meeting in the Tax, Energy, and Agriculture Committees on major pieces of “THE ONE, BIG, BEAUTIFUL BILL.” Republicans need to UNIFY behind their Highly Respected Chairmen, Jason Smith, Brett Guthrie, and Glenn “GT” Thompson. Remember, these are men that truly strive to do what is RIGHT for America.

The Democrats, on the other hand, want to DESTROY our Country. You must oppose these Democrat Amendments which, in all fairness to them, were made prior to my News Conference this morning announcing that Drug Prices, under our Most Favored Nations Policy, will be going down from 50% to 90%, affecting EVERYTHING that is done in a very positive way.

When I return from the Middle East, where great things will happen for America, we will work together on any and all outstanding issues, but there shouldn’t be many — The Bill is GREAT. We have no alternative, WE MUST WIN! But now, with the tremendous Drug and Pharmaceutical Cuts, plus massive incoming Tariff Money, our “GREAT, BIG, BEAUTIFUL BILL” just got much BIGGER and BETTER. The Golden Age of America will soon be upon us. MAKE AMERICA GREAT AGAIN!

WATCH TRUMP’S ENTIRE ANNOUNCEMENT BELOW:

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