U.S. President Donald Trump speaks to the press in the James Brady Press Briefing Room at the White House on November 20, 2020 in Washington, DC. U.S. President Donald Trump held his first press conference in over a week to make an announcement on prescription drug prices as he continues to challenge the results of the 2020 Presidential election. (Photo by Tasos Katopodis/Getty Images)
UPDATED 7:15 PM PT – Friday, November 20, 2020
The President held a press briefing Friday that emphasized his commitment to America’s seniors and patients affected by high medication costs.
President Trump touted his deal, which places the U.S. under the “Favored Nations” clause. Drugmakers previously charged the U.S. more for medications compared to other countries.
The President also commended his administration for lowering the cost of insulin. He cited their efforts to cap the price of the drug to $35 a month and noted his policies remove middlemen from the equation, which allows for greater discounts to go to patients.
“With the costs adding up to hundreds or even thousands of dollars per year per patient, today’s action ends this injustice and requires that these discounts go directly to people,” President Trump stated. “These are the people that need it. This will save patients up to 30%…Could be much higher than that. These are numbers that nobody has ever even contemplated.”
Additionally, President Trump forged legal pathways to purchase drugs at cheaper prices from other countries including Canada.