President Donald Trump exposed another example of how Americans are being ripped off by Big Pharma, recalling how a wealthy, "neurotic" friend received a discounted weight-loss injection—what he called a “fat shot”—while traveling overseas. According to Trump, the incident pushed a top drug company executive into admitting that Americans are being outrageously overcharged for medications that cost far less abroad.
On Monday, Trump recounted a story from an unnamed friend who received a weight-loss injection while abroad for just $88—a sharp contrast to the $1,300 price tag the same shot would carry in the United States.
“A friend of mine who’s a businessman, very, very, very top guy, most of you would have heard of him, a highly neurotic, brilliant businessman, seriously overweight, and he takes the fat shot,” Trump told reporters at the White House.
“And he called me up … he’s a rough guy, smart guy, very successful, very rich … ‘Mr. President, could I ask you a question? I’m in London, and I just paid for this damn fat drug I take,’” Trump continued.
Trump jokingly told his friend, “It’s not working,” before pointing out that pharmaceutical companies have been exploiting American consumers.
“He said, ‘I just paid $88, and in New York, I pay $1,300. What the hell is going on?’ He said, ‘So I checked, and it’s the same box made in the same plant by the same company. It’s the identical pill that I buy in New York. And here I’m paying $88 in London, and New York, I’m paying $1,300,” Trump said.
The president said that during a discussion with a drug company representative, the two debated the high cost of medications in the U.S. compared to abroad. After only about 30 minutes, the representative admitted they couldn't justify the price difference and conceded the point.
“[Pharmaceutical companies] been justifying this crap for years,” the president added.
Trump said that drug companies claimed high prices were due to research and development costs, but he argued that other countries should share those costs too, since they benefit from the medications as well.
This comes as Trump announced an Executive Order on Monday that will require federal programs such as Medicare and Medicaid to pay the same rates as other developed countries.