Trump: This should be FRONT PAGE news

[0:00] THANK YOU VERY MUCH, AND TODAY I'M THRILLED TO ANNOUNCE THAT ONE OF THE MOST RESPECTED [0:06] PHARMACEUTICAL COMPANIES ANYWHERE IN THE WORLD, FRANKLY, I KNOW IT VERY WELL, IS REGENERON, [0:11] AND IT'S AGREED TO OFFER THEIR PRESCRIPTION MEDICATIONS AT HEAVILY DISCOUNTED MOST FAVORED [0:16] NATION PRICES. THE NUMBERS WILL COME DOWN AT LEVELS THAT NOBODY'S EVER SEEN BEFORE. [0:22] THE WHOLE MOST FAVORED NATION THING THAT WE'VE BEEN ABLE TO DO WITH BOBBY AND MOZ AND EVERYBODY [0:28] BEHIND ME, MARTY, HAS BEEN INCREDIBLE. IT'S THE BIGGEST PRICE REDUCTION IN DRUGS IN HISTORY. [0:34] BY ITSELF, WE SHOULD WIN THE MIDTERMS, BUT IT DOESN'T WORK THAT WAY, UNFORTUNATELY, YOU KNOW, [0:40] IT DOESN'T WORK THAT WAY. PEOPLE FORGET TOO QUICKLY, BUT WE'LL HAVE THE BIGGEST, IT'S THE BIGGEST [0:45] CUT IN DRUG PRICES IN THE HISTORY OF OUR COUNTRY BY MANY PERCENTAGE POINTS. WITH THIS ANNOUNCEMENT, [0:52] 17 OF THE WORLD'S LARGEST PHARMACEUTICAL COMPANIES REPRESENTING 80% OF THE BRANDED DRUG MARKET [0:58] DRUGS HAVE NOW AGREED TO SELL THEIR DRUGS TO AMERICAN PATIENTS AT THE LOWEST PRICES ANYWHERE IN THE [1:02] WORLD. WE'LL HAVE THE LOWEST PRICES IN THE WORLD. THIS WILL RESULT IN THE LARGEST DROP IN [1:07] PRESCRIPTION DRUG PRICES IN THE HISTORY OF THE UNITED STATES OF AMERICA. [1:12] I MEAN, IT SHOULD BE FRONT PAGE NEWS, BUT IT WON'T BE. IT WILL BE BACK ON PAGE 19. [1:19] BUT THE PEOPLE GET IT. THAT'S WHY WE'RE IN THE OVAL OFFICE, I GUESS. [1:22] I GUESS. I WANT TO THANK REGENERANT CEO, A FRIEND OF MINE FOR A LONG TIME, GOOD GUY, GREAT GUY, [1:28] CEO, LEN SCHLEIFER, AND CHIEF SCIENTIFIC OFFICER, GEORGE YANKOPOLIS, WHO ARE TWO FANTASTIC PEOPLE IN THE [1:36] MEDICAL WORLD, VERY RESPECTED. WE'RE ALSO JOINED BY SECRETARY ROBERT F. KENNEDY JR., BOBBY, THANK YOU. [1:43] SECRETARY HOWARD LUTNICK, ADMINISTRATOR OF THE CENTERS FOR MEDICARE AND MEDICAID SERVICES, [1:50] DR. MEMONIAGE, WHO'S DOING A FANTASTIC JOB. THEY ALL ARE. [1:54] FDA COMMISSIONER, MORNING MCCARRI, CHIEF COUNSELOR OF HEALTH AND HUMAN SERVICES, CHRIS CLOMP. [2:01] THANKS, CHRIS. GREAT JOB. YOU'RE DOING, CHRIS, WHEREVER YOU MAY BE. [2:04] THANKS, SIR. [2:05] FOR DECADES, AMERICANS HAVE BEEN FORCED TO PAY THE HIGHEST PRICES IN THE WORLD FOR PRESCRIPTION DRUGS, BY FAR. [2:14] PRICES THAT WERE MANY, MANY TIMES WHAT THE REST OF THE WORLD WAS PAYING. [2:18] BECAUSE WE HAD A PRESIDENT THAT DIDN'T KNOW WHAT THEY WERE DOING OR THEY WEREN'T ABLE TO GET OUT OF THE [2:22] COUNTRIES TO AGREE TO IT. I WAS ABLE TO DO THAT BECAUSE I USED TARIFFS. [2:27] I SAID IF YOU DON'T AGREE TO IT, WE'RE GOING TO PUT TARIFFS IN YOUR COUNTRY. [2:31] AND THEY SAID WE WOULD BE HONORED TO DO IT, SIR, AFTER TELLING EVERYBODY NO, INCLUDING ME. [2:36] BUT THEY AGREED TO DO IT. [2:38] THE UNITED STATES IS JUST 4% OF THE WORLD'S POPULATION AND CONSUMERS, ONLY 13% OF ALL PRESCRIPTION DRUGS, [2:46] YET PHARMACEUTICAL COMPANIES HAVE BEEN MAKING 75% OF THEIR PROFITS FROM AMERICAN CUSTOMERS. [2:51] SO THINK OF THAT. [2:52] WITH 4% OF THE POPULATION AND DOING ONLY 13% OF ALL PRESCRIPTION DRUGS, [2:59] THE COMPANIES MAKE 75% MADE, I DON'T KNOW, MAYBE, HOPEFULLY THEY CONTINUE, BECAUSE ACTUALLY [3:06] IT'S NOT AS BAD FOR THEM AS IT SOUNDS. [3:08] IN FACT, MANY OF THEIR STOCKS ARE UP BECAUSE ACTUALLY WHEN THE PRICE GOES UP ON THE ONE END, [3:13] THEY MAKE UP FOR THE PRICE COMING DOWN IN THE UNITED STATES, SO IT REALLY WORKED OUT PRETTY GOOD. [3:19] TO ADDRESS THIS CHRONIC UNFAIRNESS, I SIGNED AN EXECUTIVE ORDER INSTRUCTING MY ADMINISTRATION TO DO [3:24] EVERYTHING IN OUR POWER TO SLASH PRESCRIPTION DRUGS PRICES FOR AMERICANS WHILE GETTING OTHER COUNTRIES [3:30] TO PAY MORE, IN MANY CASES MUCH MORE, BUT THEIR OTHER PRICES DOUBLED AND SOMETIMES THEY TRIPLED, [3:37] AND OURS WOULD GO DOWN BY 60%, 70%, 80%, EVEN MORE. [3:42] TODAY WE'RE BUILDING ON OUR UNPRECEDENTED SUCCESS WITH REGENERON COMMITTING TO OFFER ALL NEW [3:47] DRUGS MOVING FORWARD AT MOST FAVORED NATIONS PRICES, THEY'LL MAKE THEIR CURRENT DRUGS AVAILABLE [3:55] TO MEDICAID AND MFN, IT'S MOST FAVORED NATION. [4:00] ADDITIONALLY THEY'LL ALSO OFFER THEIR CURRENT DRUG PRALUENT, WHICH IS THE LOWER CHOLESTEROL [4:08] AND FIGHT HEART DISEASE TO ALL CONSUMERS AT DRAMATICALLY LOWER COSTS. [4:12] IT'LL COME DOWN FROM $537 TO $225 AND BE AVAILABLE AT TRUMPRX.GOV. [4:21] I DIDN'T PUT THE NAME, BOBBY DID AND OZ DID, IT'S TRUE, ACTUALLY. [4:26] REMEMBER I CAME IN, I SAID, WHAT'S THIS, IT'LL BE BETTER, IT'LL SELL BETTER, WOULD YOU HELP US? [4:33] SO I NOW HAVE MY NAME ON MEDICATION, BUT IT'S DOING GREAT, I HEAR IT SETTING RECORDS ACTUALLY, [4:41] I WAS WATCHING THE OTHER DAY, MARK CUBAN OF ALL PEOPLE SAID IT'S AMAZING WHAT TRUMP HAS DONE WITH THIS. [4:50] I CAN'T BELIEVE WHEN I HEARD HIM SAY THAT I WAS SORT OF IN A STATE OF SHOCK, BUT OTHERS HAVE SAID IT TOO, [4:55] THIS WHOLE THING IS, IT'S TURNED OUT TO BE HOT, SO THAT'S TRUMPRX.GOV, THE COMPANY WILL ALSO [5:02] INVEST $27 BILLION TO BUILD UP RESEARCH AND DEVELOPMENT AND PHARMACEUTICAL MANUFACTURING HERE IN AMERICA, [5:10] WHICH IS A BIG THANK YOU VERY MUCH. TODAY I'M ALSO ANNOUNCING THAT THE FDA HAS JUST APPROVED A NEW DRUG [5:16] MORE. [5:20] BECAUSE THERE'S SOME imaging FOR THE [5:22] COST RESEARCH AS OF ABOUT CHANCE elas [5:24] WERE RTOG FROM A GENE THERAPY, CURING A RAIR [5:28] DISEASE THAT CAUSES DEAFNESS, PEOPLE ARE TOTALLY DEAF [5:30] AND IT'S AMAZING. [5:32] WE'LL TALK ABOUT IT IN A [5:34] MINUTE, NORMALLY CURES FOR RARE [5:37] DISEASES CAN COST MILLIONS OF [5:39] DOLLARS AND REALLY THE RESULTS [5:41] AREN'T THAT GOOD BUT IN THIS CASE [5:43] I'M PLEASED TO SAY THAT [5:44] REGENERON WILL BE GIVING THIS [5:46] AWAY FOR FREE FOR A PERIOD OF [5:49] TIME FOR FREE AND HERE WITH US [5:52] IS TWO-YEAR-OLD TRAVIS SMITH. [5:54] HE WAS BORN DEAF. [5:56] WAS HE TOTALLY DEAF? [5:58] YEAH, 100%. [5:59] THIS IS 100%. [6:00] HE WAS 100% DEAF BUT HE TOOK [6:03] HIS MOM, SIERRA, SAY, I LOVE YOU. [6:07] AND SIERRA, COULD YOU MAYBE SAY A [6:11] FEW WORDS? [6:12] THAT'S REALLY INCREDIBLE. [6:13] IT'S ABSOLUTELY INCREDIBLE. [6:15] REGENERON WORKS MIRACLES. [6:16] YEAH, HE DIDN'T KNOW HIS NAME. [6:19] HE COULDN'T HEAR ME TELL HIM HOW [6:21] MUCH I LOVE HIM AND NOW WITH [6:23] REGENERON AND THIS AMAZING [6:24] SURGERY HE CAN LISTEN TO MUSIC [6:27] AND HE LOVES IT AND HE LOVES TO [6:29] DANCE AND HE LOVES INSTRUMENTS [6:31] AND I'M SO PROUD OF HIM. [6:33] THANKFUL TO EVERYBODY ON THE [6:35] REGENERON TEAM. [6:35] THAT'S INCREDIBLE. [6:36] I MEAN, EVEN THE FAKE NEWS HAS TO [6:38] BE IMPRESSED WITH THIS. [6:39] THEY'LL FIND A WAY TO MAKE IT A [6:40] BAD STORY. [6:41] HE DOESN'T HEAR PERFECTLY BUT [6:44] HE ACTUALLY DOES. [6:45] IT'S ABOUT 1% OFF. [6:46] THEY'LL FIGURE A WAY. [6:47] HOW ARE YOU GOING TO DO IT? [6:48] YOU'VE GOT TO EXPLAIN. [6:50] THEY'RE GENIUS. [6:51] THEY ARE GENIUS. [6:52] I RESPECT THEM A LOT. [6:53] BUT I JUST WANT TO THANK YOU. [6:55] THAT'S INCREDIBLE. [6:56] THANK YOU FOR HAVING US. [6:57] HE'S A BEAUTIFUL PERSON. [6:58] THAT'S A BEAUTIFUL BOY. [6:59] THANK YOU. [7:00] THANK YOU. [7:01] THANK YOU. [7:02] THANK YOU. [7:03] THANK YOU. [7:04] THANK YOU. [7:05] THANK YOU FOR HAVING US. [7:06] HE'S A BEAUTIFUL PERSON. [7:07] THAT'S A BEAUTIFUL BOY. [7:08] THANK YOU. [7:09] THANK YOU. [7:10] THANK YOU. [7:11] HIS LIFE IS A HAPPIER LIFE? [7:14] OH, YEAH. [7:15] HE IS SO FULL OF ENERGY AND LOVE [7:17] NOW. [7:18] HE WAS SUCH A SERIOUS BABY. [7:19] SO YOU SEE SUCH A DIFFERENCE. [7:20] YEAH. [7:21] HE WAS SUCH A SERIOUS BABY. [7:22] AND BEFORE THAT IT WAS A [7:24] AGENT. [7:25] IT'S VERY TOUGH. [7:26] OH, FOR SURE. [7:27] HE CAN'T TELL ME WHAT HE WANTS [7:28] OR WHAT HE WANTS TO EAT OR WHAT [7:30] HE NEEDS. [7:31] NOW HE'LL BE ABLE TO DO THAT. [7:32] WOW. [7:33] IT'S LIFE-CHANGING. [7:34] THAT'S A GREAT JOB THEY'VE [7:35] DONE. [7:36] I WANT TO THANK REGENERON AND [7:38] OTHER COMPANIES FOR DOING THEIR [7:39] PART TO BRING DOWN THE COST OF [7:40] HEALTH CARE FOR ALL AMERICANS [7:42] UNDER OUR MOST FAVORED NATIONS [7:43] AGREEMENT. [7:44] WE'VE SECURED GIGANTIC DISCOUNTS [7:46] WITH PRICE DIFFERENCES FROM 4 TO [7:49] 5 AND EVEN 600 PERCENT. [7:51] 600 PERCENT. [7:52] ONE OF THE MOST POPULAR WEIGHT [7:55] LOSS DRUGS HAS GONE FROM $1,350 [7:58] A MONTH TO AS LOW AS $199 A [8:02] MONTH. [8:03] SO THAT'S A PRICE THAT'S [8:05] INCREDIBLE. [8:06] SO IT USED TO SELL IN LONDON FOR [8:08] $87. [8:10] AND THEY RAISED IT TO 199, WHICH [8:13] IS A BIG RAISE, YOU KNOW, FROM [8:16] 87 TO 199. [8:17] BUT THAT'S BEEN GOING ON. [8:19] OUR COUNTRY HAS BEEN BEING RIPPED [8:21] OFF FOR 30 YEARS. [8:22] HOW LONG WOULD YOU SAY? [8:24] LIKE 30, 40 YEARS. [8:25] YEAH. [8:26] FOR YEARS WITH DRUGS AND DRUG [8:28] PRICES. [8:29] SO THEY'RE GOING UP. [8:30] WE'RE GOING WAY DOWN. [8:31] AND BECAUSE THE WORLD IS A BIGGER [8:33] PLACE THAN WE ARE, BELIEVE IT OR [8:34] NOT, IT'S HARD TO BELIEVE THAT, [8:35] BUT THEY ARE. [8:36] THAT WE GO DOWN MUCH MORE THAN [8:37] THEY GO UP. [8:38] SO THEY DON'T GO UP AS MUCH AS [8:39] PEOPLE WOULD HAVE THOUGHT. [8:41] SO THEY'RE GOING FROM, THEY'RE [8:43] GOING TO 199, AND WE'RE GOING [8:46] DOWN ALL THE WAY DOWN. [8:47] THINK OF THAT. [8:48] WE'RE GOING DOWN FROM $1,350 A [8:53] MONTH TO $199. [8:55] THAT'S, NOBODY WOULD BELIEVE IT. [8:57] AND THIS IS TRUE WITH ALL. [8:58] I MEAN, THIS IS THE WEIGHT LOSS [9:00] DRUG. [9:01] BUT THIS IS TRUE WITH ALL DRUGS. [9:04] SOMETIMES EVEN MORE OF A [9:06] DIFFERENCE THAN THAT, SOMETIMES [9:07] A LITTLE BIT LESS, BUT SOMETIMES [9:09] SUBSTANTIALLY MORE THAN EVEN [9:11] THAT DIFFERENCE. [9:12] YOU SEE WHAT THAT IS? [9:14] SO WE CUT THE PER CYCLE COST OF [9:17] IVF DRUGS BY THOUSANDS OF DOLLARS [9:19] AND WE REDUCED THE PRICE OF THE [9:22] MAJOR COPD MEDICATION FROM [9:24] $458 TO $50. [9:27] WHAT? [9:28] THAT MUST BE A TYPO. [9:30] IS THAT A TYPO? [9:33] FROM $458 TO $50. [9:37] IF YOUR BOY WAS HERE, HE WOULD [9:40] BE A LITTLE BIT. [9:43] HE WANTS TO GO INTO BIGGER AND [9:44] BETTER THINGS. [9:45] BUT THERE'S NOTHING BIGGER OR [9:47] BETTER THAN THIS. [9:48] THEY'LL ALL BE AVAILABLE RIGHT [9:50] NOW AT TRUMPRX.GOV. [9:51] THAT'S WHY IT'S DOING WELL. [9:52] IT'S NOT DOING WELL FOR OTHER [9:53] REASONS. [9:54] THINK OF THAT. [9:55] THAT'S SOME DISCOUNT. [9:56] BUT WE HAVE OTHERS. [9:57] AND THESE ARE ALL TOP COMPANIES [9:59] AND TOP MEDICATIONS. [10:00] AND I THINK IN THE END WE'LL [10:02] HAVE EVERY COMPANY INVOLVED. [10:04] WE'RE ALMOST THERE RIGHT NOW. [10:05] BUT WE'RE GOING TO HAVE EVERY [10:06] COMPANY INVOLVED. [10:07] TRUMPRX HAS ALREADY RECEIVED [10:08] MORE THAN 15 MILLION VISITORS [10:09] AND EVERY AMERICAN SHOULD LOG [10:11] ON TO CHECK FOR MASSIVE [10:12] DISCOUNTS BEFORE THEY GO TO THE [10:13] PHARMACY. [10:14] IT'S SETTING A RECORD. [10:15] NOBODY'S EVER SEEN ANYTHING [10:16] LIKE THIS. [10:17] I'VE ACTUALLY HAD MANY COMPANIES, [10:18] I SHOULDN'T TELL YOU THIS, [10:19] BOBBY, BUT THERE'VE BEEN MANY [10:20] COMPANIES SAY, SIR, WE'D LIKE [10:22] TO BUY FROM YOU IF YOU COULD. [10:23] WHAT? [10:24] TRUMPRX.COM. [10:25] I SAID IT'S NOT FOR SALE. [10:26] IT'S NOT ME. [10:27] IT'S THE GOVERNMENT. [10:28] THE GOVERNMENT OWNS IT. [10:29] I DON'T OWN IT. [10:30] BUT THEY'RE ALL IMPRESSED. [10:31] THESE PHARMACEUTICAL COMPANIES, [10:32] THEY SAID THEY'VE NEVER SEEN [10:33] ANYTHING LIKE THIS. [10:34] SO IT'S FANTASTIC. [10:35] NOW, I'D LIKE TO ASK SECRETARY [10:37] KENNEDY TO SAVE YOU A FEW [10:38] WORDS. [10:39] AND THEN WE'LL HAVE DR. RAZ, THE [10:41] TEAM AT REGENERON AND SIERRA. [10:43] AND SIERRA, I'M SO HAPPY FOR [10:45] YOU. [10:46] AND CHRIS CLOMP HAS BEEN [10:48] UNBELIEVABLE, A REAL STAR. [10:50] YOU DON'T KNOW HIS NAME AS MUCH [10:52] AS SOME OF THE OTHERS, BUT HE'S [10:54] A REAL STAR OF THE GROUPS. [10:56] SO, BOBBY, PLEASE. [10:57] THANK YOU. [10:58] THANK YOU, MR. PRESIDENT. [11:00] I WAS REMINDED WHEN THE PRESIDENT [11:02] WAS SPEAKING OF A CONVERSATION [11:04] THAT I HAD YESTERDAY WITH ONE [11:06] OF THE DEMOCRATIC SENATORS WHO [11:09] WAS QUESTIONING ME DURING A [11:11] HEARING AND SHE WAS RIDICULATING [11:13] PRESIDENT TRUMP FOR HIS MATH. [11:15] SHE WAS SAYING IT'S [11:20] MATHEMATICALLY IMPOSSIBLE TO HAVE [11:22] A DRUG DROP BY 600% COST WHICH [11:25] HE HAD CLAIMED. [11:27] AND I SAID, WELL, IF THE DRUG [11:30] WAS $100 AND IT RAISED THE PRICE [11:33] TO $600, THAT WOULD BE A 600% [11:36] RISE. [11:37] IF IT DROPS FROM 600 TO 100, [11:40] THAT'S A 600% SAVINGS. [11:42] AND THE PRESIDENT USED THAT [11:44] HE HAS THE PRICE OF THE [11:50] ADVICE TO ILLUSTRATE THE [11:52] MAGNITUDE OF THE THEFT THAT HAS [11:54] BEEN HAPPENING AGAINST OUR [11:56] COUNTRY AND OUR PEOPLE, AS HE [11:57] SAID. [11:58] WE HAVE 4.2% OF THE WORLD'S [12:01] POPULATION. [12:02] WE TAKE 13% OF THE PHARMACEUTICAL [12:04] DRUGS. [12:05] WE SPEND 80% OF THE BIOTECHNOLOGY [12:07] PROVIDES 75% OF THE PROFITS TO [12:09] THE PHARMACEUTICAL INDUSTRY. [12:10] THIS IS A RIP-OFF THAT HAS [12:14] IRKED HIM FOR 20 YEARS. [12:16] DURING HIS FIRST TERM, HE HELP [12:18] THE LINE ON DRUG PRICES FOR THE [12:19] FIRST TIME IN HISTORY. [12:20] HE CAME BACK ON THIS TERM AND [12:23] HE SAID WE'RE GOING TO LOWER [12:25] HIM THIS TIME NO MATTER WHAT. [12:26] THERE'S PEOPLE IN THIS ROOM OR [12:28] PART OF THE WHITE HOUSE STAFF [12:30] SAID WE CAN'T DO THAT. [12:32] OZ AND I SAID WE PROBABLY CAN'T [12:34] DO THAT BUT HE HARASSED US. [12:36] WE WERE BELIEGUERED. [12:38] IT WAS LIKE FORT APACHE. [12:41] DR. OZ WOULD NOT ANSWER HIS [12:44] PHONE BECAUSE HE WAS CALLING ALL [12:46] NIGHT LONG WITH THE PRESIDENT ON [12:48] THE LINE SAYING GET THIS DONE. [12:51] AND WE BROUGHT IN THIS AMAZING [12:53] SUPERSTAR CHRIS CLOMP AND HE [12:55] NEGOTIATED THESE AGREEMENTS THAT [12:58] PEOPLE SAID WERE IMPOSSIBLE. [13:00] I WANT TO THANK HIM FOR HIS [13:02] LEADERSHIP, CHRIS. [13:03] I WANT TO THANK GEORGE AND [13:05] LYNN, THE COFOUNDERS OF THIS [13:07] COUNTRY, THIS COMPANY OF [13:08] REGENERON. [13:09] THEIR GENEROSITY, THEIR [13:12] IDEALISM, THEIR LOVE OF THIS [13:13] COUNTRY AND THEIR COMPASSION FOR [13:15] THESE CHILDREN OVER INJURY. [13:16] THANK YOU. [13:17] THANK YOU. [13:18] AMAZING. [13:19] IT IS AMAZING. [13:20] YOU'RE RIGHT. [13:21] I TOOK A LOT OF HEAT TO SAY 500, [13:23] 600, 700. [13:24] BUT WE ALSO SAY SOMETIMES 50%, [13:26] 60%, DIFFERENT KIND OF [13:28] COALCULATION. [13:29] 70%, 80%, AND 90% AND PEOPLE [13:31] UNDERSTAND THAT BENEFIT. [13:32] THERE ARE TWO WAYS OF [13:34] CALCULATING IT. [13:35] BUT EITHER WAY IT DOESN'T MAKE [13:37] ANY DIFFERENCE WHETHER IT'S [13:38] 60, 70 OR 80%. [13:39] NOBODY HAS EVER HEARD OF IT. [13:41] BUT IT'S ALSO 500, 600, 700, [13:43] DEPENDING ON THE WAY YOU WANT [13:44] TO LOOK AT IT. [13:45] SO THE WAY YOU WORD THE [13:47] CALCULATION. [13:48] IT'S EITHER WAY. [13:50] BUT, BOBBY, YOU'RE DOING A [13:52] FANTASTIC JOB. [13:53] WE WANTED SOMEBODY OUT OF THE [13:55] BOX AND WE GOT HIM, RIGHT? [13:56] I WOULD SAY WE GOT HIM. [13:58] AND BOBBY, HE'S A GREAT GUY, [14:00] ACTUALLY. [14:00] SO, OZ, HOW ABOUT SAYING A FEW [14:02] WORDS, PLEASE? [14:03] SO THIS HAS BEEN AN [14:06] UNPRECEDENTED PROCESS. [14:07] THE PRESIDENT INSISTED WE DEAL [14:09] WITH ONE CRITICAL NUMBER YOU [14:10] SHOULD ALL REMEMBER WHICH IS THAT [14:11] ONE IN THREE AMERICANS WHEN THEY [14:13] GO TO THE DRUG STORE AFTER THEY [14:15] SEE THE DOCTOR WILL OFTEN LEAVE [14:16] EMPTY HANDED BECAUSE THEY CANNOT [14:17] AFFORD THE MEDICATIONS THEY'RE [14:18] PICKING UP. [14:19] SO, AFFORDABILITY WAS THE MAIN [14:21] WORD THE PRESIDENT WOULD USE IN [14:23] MANY OF THOSE PHONE CALLS. [14:24] HE WANTED TO BE DONE FAIRLY. [14:26] WE CREATED A PARTNERSHIP WITH [14:28] THE INDUSTRY THAT WAS REMARKABLE [14:30] AND THAT IT PUSHED 17 MASSIVE [14:33] COMPANIES INTO THE FOLD TO TRY TO [14:36] DO DEALS, AGAIN, UNPRECEDENTED, [14:37] THAT WOULD ALLOW US TO CLAIM THAT [14:39] THEY WERE GIVING THE MOST FAVORITE [14:41] NATION PRICING TO THIS COUNTRY, [14:42] TO THE AMERICAN PEOPLE. [14:43] THE PRESIDENT WOULD NOT TAKE NO [14:45] FOR AN ANSWER. [14:46] I DON'T THINK THAT'S WHAT THE [14:48] COMPANIES ARE IN, BUT NOT THE [14:50] 17TH. [14:51] HOW MANY TIMES DO YOU THINK WE [14:53] SPOKE ABOUT THE 17TH COMPANY? [14:54] TOO MUCH. [14:55] HE SAID 17, HE WANTED TO BE [14:57] 17. [14:58] WHATEVER MATH YOU WANT TO MAKE, [15:00] 16 IS NOT 17. [15:01] THERE'S A REASON THE 17TH COMPANY [15:02] WAS DELAYED. [15:03] THAT BEAUTIFUL YOUNG BOY YOU SAW [15:04] EARLIER. [15:05] WHEN YOU CAN SAVE A CHILD'S [15:06] HEARING. [15:07] MR. PRESIDENT, WE TALKED ABOUT A [15:08] LOT OF NUMBERS. [15:09] SECRETARY KENNEDY QUOTED A [15:10] HUNDRED PERCENT, 600%. [15:11] IT'S HARD TO BE FREE. [15:12] FREE IS THE BEST PRICE AND [15:14] THAT'S THE STARTING PRICE WITH [15:15] THE PRESIDENT OFTENTIMES AND [15:16] THAT'S WHAT THIS WONDERFUL [15:17] COMPANY HAS AGREED TO. [15:18] I WANT TO APPLAUD TRUMPRX.GOV, [15:20] A REMARKABLE SITE CREATED BY [15:22] JOE JEBIA. [15:23] HE HAS DID A WONDERFUL JOB WITH [15:25] ZERO GLITCHES SERVING MORE THAN [15:27] 10 MILLION INDIVIDUAL UNIQUE [15:29] AMERICANS SO FAR. [15:30] MR. PRESIDENT, IT'S THE FASTEST [15:31] WEBSITE I'VE EVER SEEN. [15:32] PEOPLE LOVE IT BECAUSE IT WORKS [15:33] WELL. [15:34] THERE'S ALL KINDS OF ADDITIONAL [15:35] ELEMENTS BEING ADDED TO IT, [15:36] WHICH WE'LL BE TALKING ABOUT. [15:37] BUT THIS WEBSITE, AS THE [15:39] PRESIDENT SAID, MUST BE CHECKED [15:41] IF YOU'RE GOING TO BUY A [15:42] MEDICATION TO MAKE SURE YOUR [15:43] PRICE IS THE RIGHT PRICE. [15:44] IT'S A TRANSPARENCY SITE THAT [15:46] IS MORE RIGOROUS THAN ANYTHING [15:47] THAT I HAVE SEEN. [15:48] MR. PRESIDENT, YOUR NAME IS [15:49] ATTACHED TO IT AND OF COURSE [15:50] THAT BRINGS A TREMENDOUS [15:51] AMOUNT OF ATTENTION TO IT. [15:52] WE WANTED IT TO BE PERFECT. [15:54] THE TEAM THAT DID THAT HAS [15:55] ACCOMPLISHED THAT EXACTLY. [15:56] I WANT TO APPLAUD CHRIS. [15:57] YOU CANNOT THANK HIM ENOUGH. [15:58] BUT IT WAS ALSO JOHN BROOKS, [16:00] IMA HERNANDEZ. [16:01] I SEE BETH BACK THERE. [16:03] A BUNCH OF PEOPLE WHO HAVE DONE [16:05] A TREMENDOUS AMOUNT OF WORK. [16:07] WHAT I KEEP HEARING FROM THE [16:09] INDUSTRY, MAYBE MY COLLEAGUES [16:10] CAN ADDRESS IT IN YOUR [16:11] COMMENTS. [16:12] THEY NEVER EXPECTED TO HAVE A [16:14] COUNTERPARTY AS QUALIFIED IN [16:15] THE FEDERAL GOVERNMENT. [16:16] IF YOU'RE THINKING OF SERVING [16:18] YOUR NATION, THIS IS THE RIGHT [16:19] TIME TO DO IT. [16:20] THIS IS THE RIGHT ADMINISTRATION [16:24] TO DO THE RIGHT THING. [16:29] GENTLEMEN. [16:30] THANK YOU. [16:31] MR. PRESIDENT, SECRETARY [16:33] KENNEDY, SECRETARY LUTNICK, [16:35] COMMISSIONER MACRI, ADMINISTRATOR [16:37] OZ, AND I GUESS SUPERSTAR CLUMB. [16:39] THANKS FOR HAVING US HERE ON [16:41] BEHALF OF ALL OF REGENERON. [16:42] FOR THOSE OF YOU DON'T KNOW ME, [16:44] I'M DR. LEN SCHLEIFER, [16:46] PRESIDENT AND CEO OF REGENERON. [16:48] WITH ME IS DR. GEORGE ANKOPLIS, [16:50] PRESIDENT AND CHIEF [16:52] SCIENTIFIC OFFICER OF REGENERON. [16:54] I'M A PRESIDENT, HE'S A [16:56] PRESIDENT, HE'S A PRESIDENT, [16:58] AND ALL THREE OF US GREW UP IN [17:00] QUEENS, NEW YORK. [17:01] THAT'S RIGHT. [17:02] SO THERE'S SOMETHING MAYBE [17:03] THAT WAS GOING ON BACK THEN [17:05] THAT WAS GOOD. [17:06] THAT'S RIGHT. [17:07] I'M NOT SURE ABOUT NOW. [17:08] SO ANYWAY. [17:10] TOGETHER WE FOUND IT, GEORGE [17:13] AND I FOUNDED REGENERON AND [17:15] BUILT IT OVER THE PAST FOUR [17:16] DECADES. [17:17] TODAY WE ARE HERE. [17:19] WE WERE NOT PUSHED TO BE HERE. [17:21] WE ARE HAPPY TO BE HERE. [17:23] BECAUSE IT MARKS AN IMPORTANT [17:24] STEP TO LOWER DRUG PRICES. [17:26] WE'VE BEEN ARGUING FOR MORE [17:27] THAN A DECADE THAT OTHER WEALTHY [17:28] NATIONS HAVE BEEN GETTING A [17:30] FREE RIDE ON AMERICAN [17:31] INNOVATION. [17:32] JUST LIKE IN DEFENSE. [17:33] BUT THEY'VE BEEN GETTING IN [17:35] HEALTH DEFENSE A FREE RIDE. [17:37] AND NOW PRESIDENT TRUMP IS PUTTING [17:40] POLICIES IN PLACE TO FORCE THESE [17:42] NATIONS TO PAY THEIR FAIR SHARE [17:44] WHICH WILL IN TURN LOWER PRICES [17:45] FOR AMERICANS. [17:46] IT'S A GOOD DEAL. [17:47] BUT WE HAVE TO REMEMBER THIS IS [17:49] JUST THE BEGINNING. [17:50] THE MOST IMPORTANT BATTLE WE [17:52] ALL FACE IS DISEASE ITSELF. [17:54] WE HAVE TO RECOGNIZE HOW HARD [17:56] THIS FIGHT IS. [17:57] FOR MOST MAJOR DISEASES THAT YOU [17:59] OR YOUR LOVED ONE MIGHT SUFFER [18:01] FROM, LIKE ALZHEIMER'S DISEASE [18:03] TO CANCERS, GENETIC DISEASE [18:05] WE ARE VERY FAR AWAY FROM A CURE. [18:08] AND WE HAVE TO UNDERSTAND THAT [18:12] DISCOVERING CURE IS PERHAPS THE [18:14] HARDEST SCIENTIFIC CHALLENGE [18:16] HUMANS UNDERTAGE. [18:17] MUCH HARDER THAN GETTING TO THE [18:19] MOON, NOT THAT WE DON'T LIKE [18:21] THAT, BUT MUCH HARDER THAN GETTING [18:23] TO MARS OR MAKING THE NEXT [18:25] GENERATION OF CELL PHONES OR [18:27] ELECTRIC CARDS. [18:28] HARD LIKE STARING INTO THE [18:30] UNKNOWN FOR YEARS, SOMETIMES [18:32] DECADES, WITH NO GUARANTEE THAT [18:34] ANYTHING YOU ARE DOING WILL [18:37] EVER MAKE A DIFFERENCE FOR [18:38] SOMEBODY LIKE TRAVIS. [18:40] REGENERON IS A GREAT EXAMPLE OF [18:42] BOTH THE DIFFICULTY OF THE [18:44] CHALLENGE BUT ALSO OF THE [18:46] POTENTIAL REWARD. [18:47] WE SPENT 25 YEARS, 25 YEARS, [18:50] AND BILLIONS OF DOLLARS, NOT [18:52] MILLIONS, BILLIONS OF DOLLARS [18:54] BEFORE WE PRODUCED OUR FIRST [18:56] IMPORTANT MEDICINE OR EVEN EARNED [18:59] OUR FIRST PROFIT. [19:00] MAYBE WE SHOULD HAVE BEEN OR [19:02] MIGHT HAVE BEEN FIRED BUT WE [19:03] STUCK WITH IT. [19:05] OUR RELENTOUS COMMITMENT TO [19:07] DISRUPTIVE INNOVATION ULTIMATELY [19:09] TURNED US INTO ONE OF THE MOST [19:11] PRODUCTIVE BIOTECHNOLOGY [19:12] COMPANIES IN THE HISTORY. [19:15] WE HAVE PRODUCED, THANKS TO [19:17] GEORGE AND HIS TEAM, NEW MEDICINES [19:19] OF ABOUT ONE IMPORTANT MEDICINE [19:21] A YEAR FOR THE LAST 15 YEARS [19:23] INCLUDING TRULY MIRACULOUS [19:24] ADVANCES, IMPACTING MILLIONS OF [19:26] LIVES. [19:27] AND WE HAVE TWO PEOPLE HERE WHO [19:30] ARE LIVING PROOF. [19:31] MR. PRESIDENT, WHEN YOU WERE [19:33] ILL WITH COVID, IT WAS [19:35] REGENERON'S MONOCLONAL COCKTAIL [19:37] THAT YOU AFFECTIONALLY DUVED THE [19:39] REGENERON. [19:40] WE LOVE IT. [19:41] AND THAT HELPS SAVE YOUR LIFE. [19:43] THAT WAS INVENTED BY GEORGE [19:45] RIGHT HERE AND HIS TEAM. [19:46] GEORGE? [19:47] WELL, IN ADDITION OF THE [19:50] PRESIDENT WE HAD A FEW MINUTES [19:51] AGO, SIERRA'S BEAUTIFUL BOY [19:53] TRAVIS, WHO WAS BORN WITHOUT THE [19:55] ABILITY TO HEAR, AS YOU HEARD [19:58] FROM SIERRA. [19:59] AND THE SAME COMPANY AND THE SAME [20:01] DEDICATED TEAM OF SCIENTISTS [20:03] THAT HELPED SAVE THE PRESIDENT'S [20:05] LIFE ALSO DELIVERED A FIRST OF [20:08] ITS KIND GENE THERAPY KNOWN AS [20:11] ATARMINI. [20:12] SO TRAVIS CAN NOW HEAR HIS MOTHER [20:14] AS SHE TOLD YOU, TELL HIM THAT [20:16] SHE LOVES HIM. [20:17] HARD TO THINK OF A GREATER GIFT. [20:20] WE HAVE A GREATER GIFT. [20:22] WE HAVE A GREATER GIFT. [20:23] WE HAVE A GREATER GIFT. [20:25] AND JUST LIKE YOU, MR. [20:26] PRESIDENT, WHO MADE OUR [20:27] ANTIBODY TREATMENT FOR COVID [20:29] FREE FOR ALL AMERICANS AND [20:30] THUS SAVED MANY LIVES, WE HAVE [20:32] MADE THE DECISION, THE [20:33] UNPRECEDENTED CORPORATE [20:34] COMMITMENT TO PROVIDE THIS [20:35] FIRST OF ITS KIND GENE THERAPY [20:36] FOR HEARING LOSS FREE TO ALL [20:38] THE CHILDREN IN THE UNITED [20:39] STATES WHO CAN BENEFIT FROM IT. [20:42] AND WE DO THIS, WHY? [20:43] TO HOPEFULLY HIGHLIGHT THE [20:45] POWER OF DISRUPTIVE BIOTECH [20:47] INNOVATION. [20:48] AND ALL THE GOOD THAT IT CAN [20:50] BRING TO ALL OF OUR LIVES AND [20:51] OUR HEALTH. [20:52] BUT WE HAVE TO REMEMBER, [20:53] DESPITE THE MIRACULOUS [20:56] ADVANCES LIKE ATARMINI AND [20:57] LIKE THE REGENERATE COVID [20:58] TREATMENT. [20:59] WE HAVE TO HIGHLIGHT HOW FAR WE [21:02] HAVE YET TO GO TO ADDRESS THE [21:04] MANY DISEASES THAT LACK [21:06] EFFECTIVE TREATMENTS. [21:07] AND THE CURE WILL NOT BE COMING [21:10] UNLESS WE NOT ONLY CELEBRATE [21:12] THE ADVANCES OF THE BIOPHARMA [21:14] INDUSTRY TODAY, BUT WE ALL WORK [21:17] TOGETHER, PRIVATE SECTOR, TOGETHER [21:20] WITH THE GOVERNMENT, TO NOT ONLY [21:22] MAINTAIN AMERICA'S POSITION AS [21:23] WORLD LEADERS IN BIOTECH [21:25] INNOVATION, BUT TO ACTUALLY [21:27] BUMP UP INNOVATION AND BECOME [21:29] EVEN MORE DISRUPTIVE. [21:30] ESPECIALLY IN A WORLD WHERE [21:33] CHINA IS INCREASING INVESTMENT [21:35] AND HEAVILY SUBSIDIZING ITS [21:37] BIOTECH INDUSTRY AND REDUCING [21:39] REGULATORY HURDLES SO AS TO TRY [21:41] TO DISPLACE AMERICA'S LEADING [21:42] POSITION. [21:43] PRESIDENT TRUMP'S EFFORTS TO [21:46] MAKE DRUGS MORE AFFORDABLE AS [21:48] WELL AS NEW FDA PROGRAMS SUCH AS [21:50] THE COMMISSIONER'S VOUCHER [21:52] PROGRAM THAT BRINGS SAFE AND [21:54] EFFECTIVE NEW MEDICINES LIKE [21:55] ATARMINI TO PATIENTS MORE [21:57] QUICKLY. [21:58] THESE ARE IMPORTANT STEPS. [22:00] ONE ADDITIONAL IMPORTANT WAY [22:03] THAT I'VE BEEN TALKING TO THE [22:05] ADMINISTRATION ABOUT TO MAINTAIN [22:06] OUR LEADING POSITION IN THE [22:07] WORLD IS TO CREATE CATALYSTS [22:09] AND ACCELERANCE FOR OUR [22:11] INDUSTRY AND FOR THE HEALTH [22:13] CARE SYSTEM SUCH AS DEVELOPING [22:14] A NATIONAL HEALTH CARE DATABASE [22:16] LINKED TO MOLECULAR DATA INCLUDING [22:18] HUMAN SEQUENCE DATA WHERE [22:21] REGENERON ONCE AGAIN IS A WORLD [22:22] LEADER. [22:23] WITHOUT SUCH BIG DATA SETS, [22:25] POWERFUL NEW TECHNOLOGIES SUCH AS [22:27] AI DESPITE ITS POTENTIAL WILL NOT [22:29] BE AS USEFUL AS IT COULD BE IN [22:31] THE QUEST TO DEVELOP NEW [22:33] MEDICINES AND IMPROVE HEALTH [22:34] CARE. [22:35] THE BIOPHARMA INDUSTRY OF [22:37] AMERICA HAS AND WILL CONTINUE [22:39] TO DELIVER A MIRACULOUS [22:41] BREAKTHROUGH. [22:42] YOU, MR. PRESIDENT, AND YOUNG [22:45] TRAVIS ARE LIVING TESTAMENTS OF [22:46] THAT. [22:47] BUT MANY MORE LIVES NEED TO BE [22:49] HELPED AND SAVED. [22:50] WE NEED TO ATTAIN A NEW LEVEL OF [22:52] DISRUPTIVE INNOVATION. [22:54] WE HAVE TO ALL WORK TOGETHER TO [22:56] MEET THIS CHALLENGE. [22:57] WHY? [22:58] BECAUSE LIVES ARE AT STAKE. [23:01] LET ME BRIEFLY SAY SOMETHING. [23:03] I'M MARRIED TO A LAWYER, MY SON [23:05] IS A LAWYER, BUT I'M GOING TO [23:06] TALK ABOUT THE CONSTITUTION AND [23:07] I'M NOT AN EXPERT. [23:08] BUT I KNOW OUR CONSTITUTION [23:09] LAYS OUT A VISION ON HOW AMERICA [23:12] WOULD OUT-INNOVATE, OUT-PRODUCE, [23:14] OUT-THRIVE EVERY OTHER NATION ON [23:15] EARTH. [23:16] AND IN IT, YOU WILL FIND A [23:19] DESCRIPTION OF A SYSTEM BUILT ON [23:21] INCENTIVE AND REWARD. [23:22] A SYSTEM THAT SAYS TAKE THE [23:24] RISK, DO THE WORK, AND YOU WILL [23:26] SHARE IN WHAT YOU CREATE. [23:28] THAT IS WHY THEY ENSHRINE PATENT [23:30] PROTECTION DIRECTLY IN THE [23:32] CONSTITUTION. [23:33] NOT AS AN AFTER THOUGHT, BUT AS [23:35] A FOUNDING PRINCIPAL. [23:36] AS ABRAHAM LINCOLN SAID, [23:38] ANOTHER GREAT PRESIDENT, [23:41] PATENTS ADD THE FUEL OF [23:43] INTEREST TO THE FIRE OF GENIUS. [23:46] WE MUST KEEP THAT FIRE BURNING. [23:48] WHAT WE DID HERE TODAY WILL DO [23:50] THAT. [23:51] LITTLE TRAVIS CAN NOW HEAR FOR [23:53] THE FIRST TIME AND HIS [23:55] POTENTIAL IS ENDLESS. [23:56] LET'S MAKE SURE HE GROWS UP IN [23:58] A COUNTRY THAT NEVER STOPS [24:00] REACHING FOR THE NEXT MIRACLE. [24:01] THANK YOU. [24:02] GREAT TO BE WITH YOU AGAIN. [24:04] CHRIS, CAN YOU SAY A FEW [24:06] WORDS, PLEASE? [24:07] THANKS, MR. PRESIDENT. [24:08] IT'S NOT LOST ON ME THAT THIS [24:10] YEAR IS AMERICA 250. [24:11] AND IT'S POWERFUL, I THINK, TO [24:14] PAUSE AND REMEMBER THAT 250 [24:16] YEARS AGO A REVOLUTIONARY FREE [24:18] REPUBLIC WAS BORN AND WITH IT [24:20] THE GREATEST INNOVATION ENGINE [24:21] IN THE HISTORY OF HUMANITY. [24:22] AND WE STAND HERE TODAY 250 YEARS [24:24] LATER GETTING TO WITNESS YET [24:27] ANOTHER GROUNDBREAKING INNOVATION [24:29] THAT DOESN'T JUST TREAT BUT CURES [24:31] DEAFNESS IN CHILDREN AND BECAUSE [24:33] OF THIS PRESIDENT AND HIS [24:35] POLICIES AROUND MOST FAVORED [24:36] NATION WILL ENABLE FAMILIES WHO [24:38] ARE STRUGGLING AND SUFFERING [24:39] WITH THIS AFFLICTION TO HAVE [24:41] ACCESS TO THAT GROUNDBREAKING [24:43] THERAPY FOR FREE. [24:44] NOW, AS THE PRESIDENT MENTIONED, [24:47] WE'VE NEGOTIATED THE 17TH OF [24:49] 17 AGREEMENTS. [24:50] THIS REPRESENTS 86% OF THE [24:52] BRANDED PHARMACEUTICAL DRUG [24:54] MARKET IN THE UNITED STATES. [24:55] BUT ANYONE WHO KNOWS US KNOWS [24:57] THAT WE'RE NOT DONE. [24:58] THAT'S A MILESTONE. [24:59] IT'S NOT THE FINISH LINE. [25:01] AND SO WE HAVE THREE CORE [25:03] OBJECTIVES THAT ARE NEXT UP. [25:04] NUMBER ONE, AND THIS IS [25:05] ALREADY UNDERWAY, WE ARE [25:06] NEGOTIATING WITH THE MANY [25:07] HUNDREDS OF BIOTECNOLOGY AND [25:08] PHARMACEUTICAL COMPANIES [25:09] REPRESENTING THAT OTHER 14% [25:10] THAT ARE BUILDING THE CURES [25:12] FOR TOMORROW. [25:13] TO ALL THOSE WHO ARE [25:15] LISTENING, I HOPE THAT WE HAVE [25:17] PROVEN THAT WE ARE CREDIBLE AND [25:18] RELIABLE AND TRUSTWORTHY PARTNERS. [25:20] WE WANT TO SIT WITH YOU. [25:21] WE WILL LISTEN TO YOU. [25:22] WE WILL TAKE THE TIME TO [25:23] UNDERSTAND YOUR BUSINESSES. [25:24] NOT ONLY AS WE NEGOTIATE ON [25:25] BEHALF OF EVERY AMERICAN [25:26] FAMILY FOR AFFORDABILITY, BUT [25:27] ALSO TO ENSURE THAT YOUR [25:29] BEST POSITION TO CREATE THE [25:30] CURES FOR TOMORROW. [25:31] SECOND, WE CONTINUE OUR WORK [25:33] ON NEGOTIATING INTERNATIONAL [25:34] TRADE AGREEMENTS. [25:35] 59 DAYS AFTER WE STOOD IN THIS [25:37] OFFICE AND PRESIDENT TRUMP [25:44] AND PRESIDENT TRUMP STANDING WITH [25:46] ALBERN BORLA FROM FISER ANNOUNCED [25:47] THE FIRST OF THE 17 MFN DEALS [25:49] TOGETHER WITH OUR COLLEAGUES [25:50] FROM THE DEPARTMENT OF COMMERCE [25:52] UNDER SECRETARY LUTNICK'S [25:53] LEADERSHIP AND FROM THE U.S. [25:54] TRADE PRESIDENT'S OFFICE UNDER [25:55] THE LEADERSHIP OF AMBASSADOR [25:56] GREER, WE NEGOTIATED A [25:58] LANDMARK AGREEMENT WITH THE [25:59] GOVERNATION OF THE UNITED [26:00] KINGDOM IN WHICH THEY AGREED [26:02] TO INCREASE SIGNIFICANTLY THE [26:03] AMOUNT THAT THEY SPENT ON BREAD [26:04] PHARMACEUTICALS FOR THE FIRST [26:07] TIME IN 26 YEARS. [26:09] THAT WORK CONTINUES WITH OTHER [26:11] COUNTRIES. [26:12] AND THIRD, WE WILL CONTINUE OUR [26:15] WORK WITH OUR PARTNERS IN [26:17] CONGRESS TO CODIFY THE [26:18] PRINCIPLES THAT UNDERPIN THESE [26:20] MOST FAVORITE NATION DEALS SO [26:22] THAT THESE SAVINGS FOR AMERICAN [26:24] FAMILIES AND THIS INNOVATION [26:25] THAT IS UNLEASHED AT THE SAME [26:27] TIME PERSISTS FOR DECADES TO [26:29] COME. [26:30] SO THAT THE ONE IN THREE OR FOUR [26:32] FAMILIES THAT DR. OZ MENTIONED [26:34] AMERICAN FAMILIES AND THE [26:35] AMERICAN FAMILIES AND THE [26:36] AMERICAN FAMILIES AND THE [26:37] AMERICAN FAMILIES ARE NOT [26:38] WRESTLING WITH THE DECISION THAT [26:39] NO FAMILY SHOULD HAVE TO MAKE [26:40] WHETHER OR NOT THEY CAN PICK UP [26:41] THEIR PRESCRIPTION BECAUSE THEY [26:42] CAN'T AFFORD IT WILL NO LONGER [26:43] BE THE CASE. [26:44] AND AT THE SAME TIME, WE KNOW [26:46] THAT THERE ARE ROUGHLY 20,000 [26:47] KNOWN DISEASES IN THE WORLD AND [26:48] WE HAVE A TREATMENT OR CURE FOR [26:49] FEWER THAN A QUARTER OF THOSE. [26:50] SO THIS PRESIDENT AND HIS [26:52] POLICIES IS NOT ONLY [26:53] SAFEGUARDING AFFORDABILITY FOR [26:54] AMERICAN EXCEPTIONALISM, WE [26:56] BET ON INNOVATION, WE BET ON [26:58] THE PRINCIPLES THAT HAVE TAKEN [26:59] US TO THIS PLACE IN 250 YEARS [27:01] FOR THE NEXT 250 YEARS. [27:02] THANK YOU, MR. PRESIDENT. [27:03] THANK YOU, CHRIS. [27:04] GREAT JOB, YOU DO. [27:05] MAYBE YOU WANT TO TALK ABOUT [27:07] RESCHEDULING WHILE WE'RE HERE [27:08] AND JUST SAY WHAT YOU'RE DOING [27:09] AND THE PROGRESS THAT YOU'VE [27:11] MADE. [27:12] GREAT. [27:13] WELL, MR. PRESIDENT, TODAY IS [27:15] ANOTHER PROMISE MADE, PROMISE [27:16] KEPT DAY. [27:17] ON DECEMBER 18th, YOU SIGNED AN [27:19] EXECUTIVE ORDER ON INCREASING [27:21] MEDICAL MARIJUANA AND CANNABIDIAL [27:22] RESEARCH AND TODAY WE DELIVERED [27:23] ON THAT PROMISE. [27:24] THE ACTING ATTORNEY GENERAL THIS [27:26] MORNING SIGNED AN ORDER THAT [27:28] MOVES INTO SCHEDULE THREE, [27:29] MEDICAL MARIJUANA PRODUCTS [27:31] THAT ARE FDA APPROVED OR THAT [27:33] ARE STATE LICENSED. [27:34] THIS IS A GIANT MOVE FORWARD TO [27:36] IMPLEMENT YOUR PROMISE AND [27:38] IT'S ACTUALLY A CAMPAIGN [27:40] PROMISE THAT YOU MADE. [27:42] YOU SAID WE'RE GOING TO MOVE [27:44] INTO SCHEDULE THREE TO INCREASE [27:46] THE RESEARCH ON THESE MEDICAL [27:48] PRODUCTS AND JUST WANTED EVERYONE [27:50] TO KNOW THAT ONE, YOU MAKE [27:52] PROMISES, YOU KEEP THEM AND TWO, [27:54] WHAT DOES SCHEDULE THREE MEAN [27:56] FOR STATE LICENSED MEDICAL [27:57] MARIJUANA PRODUCTS? [27:58] WE WILL BEGIN IMPLEMENTATION [28:00] RIGHT AWAY OF THIS ORDER. [28:02] IT DOES NOT LEGALIZE MARIJUANA. [28:04] IT MAKES IT EASY FOR THE [28:06] RESEARCHERS TO ACTUALLY STUDY [28:08] MEDICAL MARIJUANA. [28:10] WE KNOW THAT ONE IN TEN [28:12] SENIORS RIGHT NOW USED MEDICAL [28:14] MARIJUANA IN THE PAST YEAR AND [28:16] THEY REPORT THAT IT REALLY [28:18] HELPS THEM BUT WE DON'T HAVE [28:20] THE SCIENCE OR THE [28:21] UNDERSTANDING TO GUIDE THE [28:22] PATIENTS AND THE DOCTORS AND [28:23] SO BOTH PATIENTS AND DOCTORS [28:25] ARE FLYING BLIND WITHOUT [28:26] KNOWING HOW THEY INTERACT WITH [28:27] OTHER MEDICATIONS BECAUSE [28:28] THE RESEARCH HAS BEEN [28:29] DIFFICULT TO DO. [28:30] SO YOUR PROMISE TODAY SAYS [28:32] THE STATE LICENSED MEDICAL [28:33] MARIJUANA PRODUCTS ARE NOW IN [28:34] THE STATE LICENSED MEDICAL [28:36] MEDICAL MARIJUANA PRODUCTS. [28:37] WE ARE GOING TO GO TO THE [28:39] RESEARCH AND WE EXPECT THE [28:40] RESEARCH TO SIGNIFICANTLY [28:41] INCREASE SO THAT WE CAN [28:42] UNDERSTAND HOW TO GUIDE [28:43] PATIENTS AND DOCTORS IN THIS [28:44] EFFORT AND THERE WILL BE [28:45] ADDITIONAL ACTIONS THAT WILL [28:46] COME THIS SUMMER TO DO AN [28:47] EXPEDITED HEARING FOR THE [28:48] ADMINISTRATIVE AND [28:49] ADMINISTRATIVE HEARING OF [28:50] THE DEPARTMENT OF JUSTICE FOR [28:51] ALL OF MARIJUANA TO MOVE INTO [28:52] SCHEDULE 3. [28:54] THE BIDEN AND THE [28:55] BIDEN AND THE BIDEN AND THE [28:56] BIDEN AND THE PEOPLE ARE [28:57] VERY HAPPY ABOUT IT AND A LOT [28:59] OF PEOPLE SUFFERING FROM BIG [29:00] PROBLEMS WHICH SEEMS TO BE THE [29:01] BEST ANSWER. [29:02] THEY'RE VERY HAPPY ABOUT IT. [29:04] SO THE RESCHEDULING IS [29:06] STARTING AND THAT'S A BIG [29:07] THING RESCHEDULING THEY KEPT [29:09] SAYING WHAT ABOUT THE [29:10] RESCHEDULING? [29:11] SO GREAT JOB, I APPRECIATE IT. [29:14] I WANT TO THANK MRS. [29:16] IN THE WORLD, ACTUALLY, AND HE [29:19] HAD SOME MEDICAL DIFFICULTIES, [29:21] AND HE CAME UPON THIS BY [29:23] ACCIDENT, IN A WAY, AND HE SAID, [29:25] WELL, HE HAD TO GO THROUGH A [29:27] LOT OF DIFFERENT, A LOT OF [29:29] DIFFERENT MEDICATIONS, AND HE [29:32] SAID THIS WAS THE ONE THAT WAS [29:33] MUCH BETTER THAN ANYTHING ELSE. [29:35] AND SO HE EXPERIENCED IT. [29:37] HE DIDN'T BENEFIT BY IT OTHER [29:38] THAN FROM THE STANDPOINT THAT HE [29:40] LIVES A MUCH BETTER LIFE NOW. [29:42] SO HOPEFULLY YOU DON'T NEED IT. [29:45] BUT IF YOU DO NEED IT, I HEAR [29:47] IT'S THE BEST OF ALL THE [29:49] ALTERNATIVES, BUT I WANT TO THANK [29:50] HOWARD KESSLER AND MICHELLE KESSLER. [29:53] THEY REALLY PUSHED THIS VERY HARD. [29:55] THESE ARE TWO PEOPLE, VERY STRAIGHT [29:57] ARROWS, THEY'RE NOT INTO [29:58] MARIJUANA, THEY'RE NOT INTO [29:59] ANYTHING, BUT HE FOUND THIS [30:01] ANSWER, AND HE SAID, HE'S DOING [30:04] IT FOR OTHER PEOPLE, AND SO [30:06] HOWARD AND MICHELLE PROBABLY [30:08] THEY'RE WATCHING OR THEY'LL BE [30:09] HEARING ABOUT IT, BUT THEY WORK [30:11] VERY HARD TO GET THIS DONE, AND [30:14] IT'S AN HONOR, AND YOU'VE DONE [30:15] THAT. [30:17] THANK YOU VERY MUCH. [30:18] THANK YOU VERY MUCH. [30:19] THANK YOU VERY MUCH. [30:20] THANK YOU VERY MUCH. [30:21] THANK YOU VERY MUCH. [30:22] YOU ALL HAVE, AND I APPRECIATE [30:23] IT. [30:24] A MAN WHO'S DOING AN EXCELLENT [30:25] JOB IS HOWARD. [30:26] HE'S IN A LITTLE DIFFERENT [30:27] SPHERE, NOT IN THE MEDICAL [30:29] SPHERE, BUT HE KNOWS WHAT IT [30:30] ALL MEANS. [30:31] AND FROM COMMERCE, HE'S THE [30:32] SECRETARY OF COMMERCE. [30:33] HOWARD, WOULD YOU SAY A FEW [30:34] WORDS? [30:35] THANK YOU VERY MUCH. [30:36] THANK YOU VERY MUCH. [30:37] THANK YOU VERY MUCH. [30:38] THANK YOU VERY MUCH. [30:39] THANK YOU VERY MUCH. [30:40] THANK YOU VERY MUCH. [30:41] BOBBY KENNEDY AND THE WHOLE TEAM, [30:42] WHEN THEY DO MOST FAVORED NATION, [30:44] WE ALSO ASK THE COMPANY TO [30:46] RESHORE AND BUILD THEIR DRUGS [30:48] HERE IN AMERICA. [30:49] BECAUSE TOO MANY OF OUR DRUGS, [30:51] OUR KEY DRUGS FOR OUR HEALTH, [30:52] ARE BEING MADE OVERSEAS. [30:53] AND IN A CONFLICT WE CAN'T RELY [30:54] UPON THEM. [30:55] THANK YOU VERY MUCH. [30:56] THANK YOU VERY MUCH. [30:57] THANK YOU VERY MUCH. [30:58] THANK YOU VERY MUCH. [30:59] THANK YOU VERY MUCH. [31:00] I WOULD SAY THAT OUR PARTNERS [31:02] FROM REGENERON HAVE AGREED TO [31:04] RESHORE THEIR PRODUCTION OF [31:06] PHARMACEUTICAL DRUGS. [31:07] AND THIS IS EXACTLY FROM YOUR [31:09] PHARMACEUTICAL TARIFFS. [31:10] THAT'S THE POINT. [31:11] SO THAT MEANS $448 BILLION OF [31:15] DRUG MANUFACTURING IS COMING TO [31:18] AMERICA BECAUSE OF YOUR [31:20] TARIFFS, BECAUSE OF YOUR [31:22] PHARMACEUTICAL STRATEGY. [31:23] BECAUSE OF THE TARIFFS WE HAVE [31:26] IT'S BEEN AMAZING ACTUALLY. [31:27] WE HAVE ALL OF THE COMPANIES [31:29] AND ALL OF THE REST OF THE [31:31] PROPERSUITABULOUS COMPANIES [31:32] THEY'VE COMMITTED TO BUILD IN [31:33] AMERICA BECAUSE OF YOUR TARIFF [31:34] POLICY AND YOUR STRATEGY. [31:35] AND BECAUSE OF THE TARIFFS [31:37] WE HAVE, IT'S BEEN AMAZING [31:38] ACTUALLY. [31:39] WE HAVE ELI LILLY AND PIZZER AND [31:41] ALL OF THE COMPANIES. [31:42] WE HAD SEVEN OF THEM HERE AT [31:44] ONE TIME WHICH WAS INTERESTING [31:45] TO SEE BUT THEY ACTUALLY GOT [31:47] ALONG WITH EACH OTHER. [31:48] THEY STOOD RIGHT BEHIND ME, [31:50] I THINK FIVE MAJOR PLANTS WHICH [31:53] WITHOUT TARIFFS THEY WOULD HAVE [31:54] BUILT NONE. [31:55] I SAID HOW MANY WOULD YOU BUILD [31:57] WITHOUT NONE? [31:58] THEY WERE ALL MAKING THESE [32:00] PRODUCTS IN OTHER COUNTRIES. [32:01] A LOT OF OTHER COUNTRIES [32:02] ACTUALLY. [32:03] NOT JUST CHINA BUT A LOT OF OTHER [32:04] COUNTRIES. [32:05] I THINK BY THE TIME I LEAVE [32:07] OFFICE THEY'LL BE MOSTLY [32:09] OPERATING, THEY HAVE AN INCENTIVE [32:12] TO DO THEM QUICKLY. [32:13] BIG INCENTIVE LIKE THE TARIFFS [32:15] GO UP IF THEY DON'T. [32:16] AND REMEMBER IF THEY DO THEM [32:18] HERE THEY DON'T HAVE ANY TARIFFS [32:19] TO PAY. [32:20] IT'S AN INCREDIBLE INCENTIVE. [32:21] AND IF THEY DON'T DO THEM HERE [32:23] THEY HAVE A VERY SUBSTANTIAL [32:24] TARIFF SO THEY GET PENALIZED. [32:25] AND IT'S BRINGING COUNTRIES NOT [32:27] ONLY DRUG COMPANIES BUT CAR [32:28] COMPANIES. [32:29] AI IS A DIFFERENT THING [32:31] ALTOGETHER BUT EVEN THERE BUT [32:33] THE AI IS, WE'RE LEADING CHINA [32:35] FROM CANADA IN AI, WE'RE LEADING [32:39] EVERYBODY IN AI. [32:40] WE'RE LEADING NOW AND CAR [32:42] COMPANIES ARE COMING FROM [32:43] CANADA, THEY'RE COMING FROM [32:45] MEXICO, GERMANY, JAPAN. [32:46] THEY'RE POURING INTO OUR [32:48] COUNTRY BECAUSE THEY'RE VERY [32:49] SMART. [32:50] IT SHOULD HAVE BEEN DONE LONG [32:51] AGO BY OTHER PRESIDENTS. [32:52] WE WERE THE CAR CAPITAL OF THE [32:54] WORLD 50 OR 60 YEARS AGO AND [32:56] THEN THEY JUST STARTED TAKING [32:57] THEM AWAY. [32:58] WE WERE THE CHIP CAPITAL OF THE [33:00] WORLD AND NOW, YOU KNOW, INTEL. [33:02] AND NOW THEY'RE COMING BACK. [33:04] YOU MAY SAY A WORD ABOUT THAT [33:06] REAL FAST BECAUSE WHAT WE'RE [33:07] DOING WITH CHIPS ARE [33:08] INCREDIBLE. [33:09] WHAT WE'RE DOING IS SAYING AT [33:11] THE END OF A YEAR AND A HALF, [33:12] TWO YEARS, IF YOU DON'T HAVE [33:14] YOUR CHIP COMPANY, YOU'RE [33:15] GOING TO PAY A TREMENDOUS [33:16] TARIFF TO PUT CHIPS INTO THIS [33:17] COUNTRY. [33:18] AND THEY ARE BUILDING, I THINK [33:19] WE'LL HAVE CLOSE TO 50% OF [33:20] THE CHIP MARKET VERY SOON. [33:21] RIGHT NOW WE HAD NOTHING. [33:22] WE HAD VIRTUALLY NOTHING. [33:23] AND THEY'RE COMING IN FROM [33:24] TAIWAN. [33:25] THEY'RE COMING IN MOSTLY FROM [33:26] TAIWAN BECAUSE THAT'S WHERE [33:27] CHIPS ARE MADE. [33:28] BUT MOSTLY FROM SOUTH KOREA, [33:30] TAIWAN, VERSUS OTHER COUNTRIES, [33:32] BUT THEY'RE COMING BACK TO [33:33] AMERICA. [33:34] WE'RE BRINGING THEM ALL BACK. [33:36] IT'S A REVOLUTION. [33:37] NOBODY'S EVER SEEN WHAT WE'VE [33:38] DONE. [33:39] THERE'S NEVER BEEN ANYTHING LIKE [33:40] WHAT WE'VE DONE. [33:41] WE HAVE $18 TRILLION BEING [33:42] INVESTED. [33:43] THAT'S FOR 11 MONTHS. [33:45] AND THE LAST ADMINISTRATION [33:47] HAD LESS THAN $1 TRILLION IN [33:48] FOUR YEARS. [33:49] WE HAVE IN 11 MONTHS OVER $18 [33:51] TRILLION. [33:52] HOWARD, DO YOU WANT TO TALK [33:55] JUST FOR A SECOND ABOUT THE CHIP [33:56] MARKET BECAUSE IT'S EXPLOSIVE? [33:58] SURE. [33:59] YOU'VE GOT SEMICONDUCTORS. [34:00] YOU'VE GOT LEADING EDGE LOGIC. [34:02] YOU'VE GOT HIGH BANDWITH [34:04] MEMORY AND YOU HAVE FOUNDATIONAL [34:06] CHIPS. [34:07] AND AMERICA HAD A COUPLE OF [34:09] POINTS, THREE OR FOUR PERCENT [34:10] MARKET SHARE. [34:11] AND WE ARE, OF COURSE, THE [34:13] BIGGEST DEMAND. [34:14] AND THE PRESIDENT GAVE THE [34:16] ORDER, LET'S GET THESE FACTORIES, [34:18] THESE FAVS BUILT IN AMERICA. [34:20] THE BIGGEST EXPECTATION IS WE [34:22] WILL HAVE $1 TRILLION OF THESE [34:25] FAVS. [34:26] THESE ARE FACTORIES. [34:27] THIS IS NOT THE HYPER SCALERS [34:29] BUYING CHIPS. [34:30] THIS IS LITERALLY THE MAKING OF [34:32] THE CHIPS. [34:33] RIGHT? [34:34] WE HAD MICRON, $200 BILLION. [34:36] TSMC, $165 BILLION. [34:37] THE LIST GOES ON AND ON. [34:40] YOU NEGOTIATED A GREAT DEAL WITH [34:42] TAIWAN. [34:43] $500 BILLION COMING TO AMERICA. [34:45] WE'LL HAVE $1 TRILLION OF [34:47] SEMICONDUCTORS. [34:48] WE'LL HAVE $18 TRILLION. [34:50] IT'S FOUNDATIONAL FOR US TO TAKE [34:52] CARE OF OURSELVES.