Trump announces a major expansion of most favored nation drug pricing

President Trump Makes an Announcement on Healthcare Affordability, Aug. 31, 2026. Thank you very much. This is uh to me a really big day, one of the biggest ever because this announcement is as big as it gets medically. I think it just can't get certainly when you talk about medical and dollars in the same sentence, this doesn't get bigger. So, I'm thrilled to announce a major expansion of one of our signature affordability initiatives, something that people have been trying to get for years, for decades. And u I'm not even sure did other presidents try. They didn't try because the chances of them getting it were very slim. They would never have been able to do it. And that's most favored nation drug pricing. biggest thing you you'll hear, you know, if we would cut drugs for like 1/8 of a percent, it was like a big deal. We're cutting them. Numbers that you'll hear in a second are astronomical. Nine new pharmaceutical companies are committing to deliver their lowest drug prices for American patients. They're largely standing behind me. I want to thank the president of Estellis Farmer Medical, Michael Putratis, CEO of B1 medicines. John Oiler, CEO of Bridge Bio. Neil Kumar, senior vice president of CSL. Julie Schiffman, CEO of Sun Pharma. Rick Ashcroft, president of Kio Kieran. Steve Schaefer, executive vice president of Tea Pharmaceuticals USA. Christine Fox, CEO of UCB, Dr. Jean Krisi Telier. I think I did got those names almost right. That's a group of very interesting names. We'll have to talk about that later. Okay. >> But congratulations because the job you're doing is amazing and your companies are doing amazingly and big contribution you're making to health. Thanks as well to Secretary of Health and Human Services Robert F. Kennedy Jr. Secretary of Commerce Howard Lutnik, Administrator of the Centers for Medicine and Medicaid Services. Dr. AMD Oz, Chief Counselor and nominee for Deputy Secretary of Health and Human Services, Chris Clump, and future FDA Commissioner, Dr. Heidi Overton. Great people. For decades, Americans paid the highest drug prices anywhere in the world by far. It wasn't even close. We were ripped off by the pharmaceutical companies and we were ripped off more than anything by other countries throughout the world. And we never had a president that wanted to fight for us. But under the most favored nation agreement that I negotiated at great length and at great uh really lost some friends over it, some very good friends. Wasn't easy. But under that most favored nation agreement, we now pay the lowest price paid by other countries anywhere in the world. So we went from the highest price for pharmaceuticals, for drugs, to the lowest. We've slashed the cost of dozens of commonly used medications and ultimately everything, all drugs, by price differences of 400, 500, and even 600%. Drug prices have gone down and will go down 50 60 70 80%. There's never been an announcement like that. It won't get covered. If it were a Democrat sitting here, it would be the biggest story in the last 20 years. But it won't ge