President Trump Signs Drug Price Bills CSPAN October 10, 2018 11:36pm-12:00am EDT
another important subject i want to give an update on the devastating storm bearing down on florida. it is moving rapidly and has a very high level one of the biggest storms ever to hit our country. developed very rapidly very concrete tree and they just concluded a briefing with the administrator of fema and we are watching hurricane michael hitting shore now wins are going close at 200 miles per hour you don't hear about that category for. the most powerful recorded storm to strike the florida panhandle ever and bring with it anywhere from 200 mile-per-hour winds the storm surge could be up to 15 feet
the rainfall could produce flash flooding at the highest levels we have been in constant communications with governor rick scott from florida and with the authorities in the various states and we are well prepared for massive amounts of food with first responders and the electrical companies are staged and ready to go over 1000 trucks. large amounts of food and water that will go immediately to be rushed in as the storm leaves. federal resources are on the ground at every level. so we are absolutely ready as a top priority as the single top priority we moved a lot of
people off the area and out of the path of the storm but some people remain and don't want to go. we have no choice but to let them stay the wins will be so tremendous. a lot of those houses are not up for the wins like that or have never seen wins like that florida and georgia will bear the brunt of the storm. however hurricane michael is expected to bring considerable rainfall to north and south carolina in addition and i just left there and they had a tremendous storm as you know, . it was a heavy water storm now unfortunately they will be getting additional water as it
dries out and here comes more so it is a tough situation. we are with them and georgia and florida and alabama everybody that will be hit we have covered god bless everyone because it will be a rough one and a dangerous one. my administration will continue to provide updates and information as it becomes available. we are here today on a very different subject and that is the issue to me vital importance from day number one of the administration the well-being of every american the price of prescription drugs is out of whack and too high i've been talking about it long before i ever decided to run for president look at prices in our country for the exact same drug in other countries is much lower made in the same plant by the same
company we have middleman problems and other problems we are ending many of those problems today based on what we are signing today we can do additional things over the coming months as opposed to years. we will see drug prices to come down so i am thrilled to sign two bills to lower the cost of prescription drugs the lower price act of 2018 and the patient right to know prices ac act. obviously based on the name this gives people knowledge to prices at different locations where to buy the drugs will have an immediate impact it is called a liar loan - - the law of supply and demand but now we have it earlier this year i
released the drug pricing blueprint setting out a new agenda to drive down drug prices for all americans now we are announcing that blueprint we began to crack down on the gag clauses of medicare part d plan we know what that is they prevent pharmacists from telling patients about more affordable options for prescription drugs today congress is building on my administration's actions with legislation with very strong legislate loan - - legislation to completely end the gag clauses once and for all the citizens deserve to know the lowest price available at pharmacies that is what they will be getting to see pricing and where they
should go and then the pharmacies will be dropping prices. thank you to senator collins for her incredible leadership on this legislation i haven't seen you in a few days. [laughter] thank you very much. also i would like to recognize senator alexander senator cassidy my friend. maybe someday she will be a friend senator stab and now. [laughter] and somebody that has really worked hard and also secretary of health and human services and he knows the industry better than anybody who was very successful.
one hundred days after releasing the blueprint 15 drug companies released the list prices roll back the price increases for the rest of the year and you probably remember one month ago i called out the request of hhs pfizer, novartis, a couple of others and they had prices that were fairly substantial i said you can go that - - do that. we are going down not up. they ended the increase. so then they put out notices that the increase will not take effect. and then i said this is a powerful position. when i first realize the power of the presidency. we have kept prices down now
we will actually watch them go down. and to reduce regulations to deliver medicine faster and cheaper we sped up the fda approval process they proved 1000 generics the most in history saving almost $9 billion the first year of my administration. it is a very important thing. this is been a priority from day number one. we stopped hospitals from overcharging seniors on medicare with hundreds of millions of dollars of drug payments this year alone. medicare part d plans new tools to negotiate lower prices for more drugs. thanks to our actions to increase competition to drive down cost now the premiums
will start to substantially decline for the second year in a row. we have already gotten it down a lot but now it will go down from what we're doing today and over the last couple of months. further to confront the global freeloading of the taxpayers. foreign countries extort the lower prices for their citizens subsidized by higher prices from american citizens for more research and development by our country and other countries are not asked to pick up their fair share. it is called welcome to the game whether trade or military but it will all stop. we are taking dramatic action to make health insurance more affordable. we are allowing american to
pool resources to buy better health care for less money through association health plans and that is really taking off. they are getting tremendous sales even more than we thought it is beautiful to see. we have expanded access to short-term plans to provide coverage options at a fraction of the cost of obama care. for example, according to the average lowest premium for the obama care plan 4200 per year for a 40 -year-old woman and contrast short-term coverage for this individual is $1300 per year as savings of $3000. and most people say that would be better. much less money and better. people are signed up very rapidly.
also ended the individual mandate penalty punishing americans for not wanting to pay a fortune for obama care disaster. it was one of the worst things people paying a lot of money for the privilege of not paying a lot of money for bad health care and we ended that. and thanks to actions today for the first time since obama care went into effect average premiums on the exchanges are coming down. through good management and
lots of other things we are keeping the premiums down. we are strongly protecting americans from pre-existing conditions. this is an important thing to republicans. pre-existing conditions we are protecting americans with pre-existing conditions. in less than two years we have
taken unprecedented action to make health care more affordabl affordable, and give patients more choice and control. the american people deserve a health care system that works for them not one that takes advantage of them. we are changing that rapidly along with a republican congress i am delivering on my promise to lower drug prices and i really do believe democrats want to do that too very much. i have spoken to many of them. debbie. i cannot put you in a position. you want them to go down also if anything is bipartisan it is lowering drug prices. lower premiums and we are making health care affordable and great affecting all americans. tremendous progress has been made.
but we are reducing prescription drugs and the cost of prescription drugs next to me we have the great larry kudlow whose voice was so many beautiful i have listened now he is working with us. every time i hear those beautiful words and they have been beautiful. just like the economy. [laughter] [applause] i am going to sign this. i would like the secretary to say a few words during the actual process. . >> thank you very much mister president. i want to echo the presidents gratitude to the senate and pant my dutch house and senate to pass this legislation that ends the gag practices. preventing a patient from knowing they can pay less for a drug and now we are giving the patients the right to know
you can ask your pharmacist can i pay less for this medicine this is one of the areas to work in a bipartisan way because there is significant consensus. thanks to the presidents leadership we have taken major action for the first time ever to an important part of the medicare program to create a pathway for importation of drugs to relieve that exorbitant price increases of generics and other branded sources here in the united states. also increased competition through generic approvals and then also by preventing the