Trump touts drug price cuts, unveils gene therapy cure

Trump Highlights Healthcare Affordability Efforts, Praises New Gene Therapy

President Trump on Wednesday announced significant steps aimed at lowering healthcare costs for Americans, focusing on drug price negotiations and the approval of a new gene therapy for deafness. Speaking at an event discussing healthcare affordability, Trump highlighted agreements with pharmaceutical companies to bring down the cost of medications and celebrated the FDA’s approval of a groundbreaking treatment from Regeneron.

The event featured a young boy, Travis Smith, who was born deaf and has now regained his hearing thanks to Regeneron’s new gene therapy, Oarmony. This development was presented as a major medical breakthrough, offering hope for rare diseases that often come with exorbitant price tags and uncertain outcomes.

Regeneron Offers Miracle Cure for Deafness

The new gene therapy, Oarmony, targets a rare disease that causes profound deafness. Travis Smith, a two-year-old who was 100% deaf, received the treatment. His mother, Sierra, shared an emotional account of how Travis can now hear her say “I love you,” listen to music, and dance, transforming his life and future prospects.

“He didn’t know his name. He couldn’t hear me tell him how much I love him.

And now with Regeneron and this amazing surgery, he can listen to music and he loves it and he loves to dance and he loves instruments and I’m so proud of him,” said Sierra, Travis’s mother. “Yeah, now he can hear and he has a bright future ahead of him and I’m so thankful to everybody on the Regeneron team.”

Regeneron has committed to providing Oarmony free of charge for a period of time, a move praised by the President as a demonstration of corporate responsibility. The company’s leaders, Dr. Glenn Schlifer and Dr. George Yancopoulos, emphasized their long-standing commitment to scientific innovation and their decision to make the therapy accessible to all children in the U.S. who can benefit from it.

Dr. Yancopoulos noted that Regeneron spent 25 years and billions of dollars developing such treatments. He also highlighted that Regeneron’s antibody treatment was used to help the President when he was ill with COVID-19.

Aggressive Drug Price Negotiations Yield Major Savings

Beyond the gene therapy announcement, President Trump detailed his administration’s efforts to reduce prescription drug costs. He pointed to a “most favored nation” agreement that has secured significant discounts, with price differences ranging from 400% to 600%.

As an example, a popular weight-loss drug has reportedly dropped from $1,350 a month to as low as $199 a month. Similarly, the cost of a major COPD medication has fallen from $458 to $50. These reductions are attributed to negotiating power derived from international agreements and domestic policies.

Secretary of Health and Human Services Alex Azar, also known as Bobby Kennedy, explained the strategy behind the price reductions. He stated that the U.S. consumes a significant portion of the world’s pharmaceutical drugs despite having a smaller population, leading to a “ripoff” for decades. The administration’s goal is to ensure other wealthy nations pay their fair share for the innovation developed in America.

TrumpRX.gov Offers Access to Discounts

To help Americans access these lower prices, the administration has launched TrumpRX.gov. The website has reportedly seen over 15 million visitors, providing a platform for consumers to find significant discounts before purchasing medications. President Trump encouraged all Americans to use the site.

Dr. Mehmet Oz, a proponent of the website, described it as a transparent tool that helps ensure Americans receive the correct prices for their medications. He noted that one in three Americans often leave the pharmacy without their prescribed drugs due to cost.

Focus on Reshoring Pharmaceutical Manufacturing

In addition to lowering drug prices, Secretary of Commerce Wilbur Ross highlighted efforts to bring pharmaceutical manufacturing back to the United States. Regeneron has agreed to reshore its production of pharmaceutical drugs, a move expected to create jobs and enhance national security by reducing reliance on overseas manufacturing.

This initiative is part of a broader strategy to boost domestic production of critical goods, including semiconductors. Tariffs and incentives are being used to encourage companies like Eli Lilly, Pfizer, and Regeneron to build manufacturing plants in America.

Advancements in Medical Marijuana Research

The event also touched upon progress in medical marijuana research. An executive order signed in December has led to the rescheduling of FDA-approved or state-licensed medical marijuana products into Schedule III. This change aims to remove barriers for researchers studying the medical benefits and interactions of these substances.

The rescheduling does not legalize marijuana but makes it easier for scientists to conduct studies. This is seen as a crucial step to better guide doctors and patients who are currently using medical marijuana without extensive scientific backing on its efficacy and safety.

Looking Ahead: Continued Push for Affordability and Innovation

The administration plans to continue negotiating international trade agreements and working with Congress to codify the principles behind the drug pricing policies. The goal is to ensure long-term affordability for American families and to maintain the nation’s leadership in biotechnology innovation, especially in the face of increasing global competition.

The focus remains on fostering a system that encourages innovation while making life-saving treatments accessible to all. The efforts to reshore manufacturing and expand research into new medical frontiers are presented as key components of this ongoing strategy.

Source: LIVE: Trump participates in event on health care affordability | NBC News (YouTube)