Pfizer CEO Albert Bourla discusses Pfizer’s fourth-quarter adjusted earnings and the competitive landscape for weight-loss drugs in “The Claman Countdown.”
President Donald Trump unveiled TrumpRx.gova new government-backed website aimed at giving Americans access to discounted prescription drugs.
Speaking at the website launch Thursday evening at the White House, Trump argued that Americans have long paid much more for prescription drugs than consumers in other countries and called the price disparity unprecedented.
“Americans have long paid the highest drug prices anywhere in the world, while other countries often paid pennies on the dollar for the exact same drugs,” Trump said. “We were essentially subsidizing the entire world with hundreds of billions of dollars every year.”
He added that despite making up a small share of the world’s population, Americans account for a disproportionate share of it costs of medicines.
FOX NEWS POLL: VOTERS ARE ALARM ABOUT HEALTHCARE COSTS
“The United States represents just 4% of the world’s population and consumes only 13% of all prescription drugs,” he said, before confirming that new agreements would change that dynamic.
“Under the agreements that my government has concluded“The United States will pay the lowest price paid by any other country,” he said. “We’ll take the lowest price anywhere in the world. That’s the price you’re going to pay,” Trump added.
“They are way behind for the United States – by as much as 300, 400, 500, even 600%,” Trump said. “In some cases even more.”
Trump announced the website at a White House event alongside Centers for Medicare & Medicaid Services Administrator Dr. Mehmed Oz and National Design Studio director Joe Gebbia, the Airbnb co-founder who advises the administration on digital design and user experience.
The initiative follows agreements between the Trump administration and 16 of the world’s largest pharmaceutical companies under so-called “most favored nation” pricing agreements.
“All of these discounts and more will be available directly to consumers starting today TrumpRx.govTrump said, adding that 16 of the 17 largest pharmaceutical companies have signed on, with the remaining companies expected to join.
HUISGOP SEEKS OFF-RAMP FOR SKY-HIGH HEALTH INSURANCE COSTS FOR MILLIONS OF AMERICANS
In exchange for waivers on U.S. tariffs, participating drugmakers agreed to reduce prices for the federal Medicaid program and extend these reduced prices to cash-paying consumers through TrumpRx.
Participating companies include Eli Lilly and Novo Nordisk, which agreed to lower prices in popular areas GLP-1 weight loss medications.
The administration said the agreements are expected to lower monthly costs for Americans to an average of $149 to $350.
The administration emphasized price cuts across America range of medicationsincluding inhalers, HIV treatments, diabetes medications and IVF medications.
GOP UNVEILS PLAN FOR ‘TRUMP HEALTH FREEDOM ACCOUNTS’ TO REPLACE OBAMACARE GRANTS WITH STATE WAIVERS
The website lowers the price for popular weight loss drugs such as Wegovy. (Michael Siluk/UCG/Universal Images Group via Getty Images/Getty Images)
Trump cited reductions in weight-loss drugs and inhalers, as well as fertility treatments.
“Novo Nordisk will drop the price of Wegovy from over $1,300 to $199,” Trump said. “AstraZeneca drops the price of a regular inhaler from $458 to $51.”
“We also offer historic discounts for couples struggling with infertilityhe added, saying manufacturers would dramatically reduce the cost of commonly used IVF drugs, including Gonal-F.
The TrumpRx.gov lists prescription drugs at a discount, shows users the percentage savings over the original price, and generates a coupon for each drug.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
Consumers can print the coupon or save it to a mobile wallet and present it at participating pharmacies to receive the discount at checkout. For specialty medications, the site directs users to mail-order pharmacies that can deliver medications directly to their homes.
According to government officials, purchases made through the website generally do not count toward insurance deductibles.
