This transcript captures a press conference where former President Trump announces a major agreement with the UK-based pharmaceutical giant AstraZeneca to lower prescription drug prices in the United States. The core of the deal is the adoption of a "Most Favored Nation" (MFN) pricing model, ensuring that U.S. Medicaid programs will pay the lowest price offered anywhere in the world for AstraZeneca's drugs. The agreement also includes significant direct-to-consumer discounts, promoted through a new government website called TrumpRX.gov, and a $50 billion investment from AstraZeneca to onshore manufacturing and R&D in the U.S., highlighted by a new facility in Virginia.
The announcement features remarks from administration officials, including Robert F. Kennedy Jr. and Dr. Mehmet Oz, who praise the deal as a historic achievement that ends global "freeloading" on American innovation and was made possible by the administration's tariff policies. The latter half of the press conference shifts to a Q&A session covering a wide range of topics, including U.S.-China relations, a newly brokered peace deal in Gaza, a potential government shutdown, and federal intervention to address crime in major U.S. cities.
AstraZeneca Drug Pricing and Investment Deal Announced
0:00 Historic Announcement: President Trump announces a major achievement in his administration's effort to lower prescription drug prices for Americans.
0:51 Most Favored Nation (MFN) Agreement: The core of the announcement is a deal with AstraZeneca, the largest pharmaceutical manufacturer in the UK. The company agrees to a "Most Favored Nation" clause, meaning the U.S. will pay the lowest price for their drugs compared to any other country in the world.
2:47 MFN Pricing for Medicaid: AstraZeneca will offer all its prescription medications to Medicaid at MFN prices, a move projected to save American taxpayers hundreds of millions of dollars annually.
4:10 TrumpRX.gov and Massive Discounts: A new website, TrumpRX.gov, will be launched to list drugs at heavily reduced costs. Trump highlights examples of price reductions as high as 654% for specific inhalers and diabetes medications.
5:11 $50 Billion U.S. Investment: AstraZeneca commits to investing $50 billion in the United States over the next five years. This investment will fund research and development and the onshoring of manufacturing facilities, including a new plant in Charlottesville, Virginia, expected to create 3,600 jobs.
7:04 The Role of Tariffs: Secretary Robert F. Kennedy Jr. credits the administration's use of tariffs as the key leverage that brought pharmaceutical companies to the negotiating table to achieve a deal that previous administrations could not.
13:10 A New Model for Drug Pricing: CMS Administrator Dr. Oz outlines the five key points of the deal, emphasizing that it creates a new direct-to-consumer model, provides MFN pricing for all new drugs, and stops "global freeloading" off American innovation.
19:24 AstraZeneca's Perspective: CEO Pascal Soriot describes the agreement as an "equalization" that rebalances the cost of global R&D, ensuring other wealthy nations pay their fair share. He confirms the commitment to U.S. investment and manufacturing.
25:31 Impact on States: Virginia Governor Glenn Youngkin explains that the MFN pricing for Medicaid will create massive savings for state budgets, which can be redirected to other services or tax relief. He also highlights the national security benefit of onshoring critical pharmaceutical manufacturing.
31:25 Q&A on Foreign Policy and Domestic Issues: The press conference concludes with a Q&A session where Trump discusses using tariffs as leverage with China, a newly brokered peace deal for Gaza, and his administration's actions to combat crime in cities like Washington D.C., Memphis, and Chicago.