In a recent press event, President Trump took aim at Joe Biden, accusing him of claiming credit for his (Trump’s) own achievements in lowering prescription drug prices, particularly following a groundbreaking announcement regarding price cuts of up to 80%.
On Tuesday, Trump revealed a partnership with Pfizer that promises Americans heavily discounted access to certain prescription drugs, aligning with a “most-favored-nation” pricing structure. This agreement ensures that Medicaid recipients can now purchase many brand-name drugs at slashed prices, with discounts reaching as high as 80%.
It’s worth noting that back in May, Trump preempted this deal by signing an executive order that directed top officials to take “aggressive measures” to secure the best possible prices for prescription medications. This move was a key step in his ongoing effort to make healthcare more affordable for Americans.
During his administration, Trump notably capped insulin prices at an accessible $35 per month. However, shortly after taking office, Biden chose to reject this Trump-era policy, effectively rolling back this initiative on January 24, 2021.
The Biden Administration later enacted the Inflation Reduction Act, which reversed their own prior decision and reinstated the insulin price cap introduced by Trump, subsequently taking credit for the policy as if it had originated from them.
When confronted with concerns about Democrats appropriating the praise for his successes in reducing drug costs, Trump expressed frustration over Biden’s lack of acknowledgment for his contributions.
“He had nothing to do with it,” Trump proclaimed, criticizing Biden for his apparent ignorance regarding the insulin price cap policy.
Conradson: In your first term, when you cut the price of insulin, Biden came in and tried to take credit for that. Are you concerned that the Democrats will attempt to seize credit for these historic reductions in drug prices as well?
Trump: I appreciate that question. Yes, I did cut the price of insulin to $35, but the reality is that many of these changes take time to be recognized. With insulin, for example, it had been prohibitively expensive at $200, $300, or even $500. I managed to bring it down to $35, and I anticipated that whoever took over after me would claim credit. Unfortunately, Biden did just that. He came out and acted as though he was responsible for the new price—when in reality, he had no clue it was happening until someone explained it to him. They were completely out of the loop!”
He continued, “When Biden was asked about insulin prices dropping, he had no idea! But the moment it went into effect, they acted as if it was a testament to their administration’s greatness, despite having nothing to do with it. We did this because we wanted to genuinely help people who were struggling to afford it.”
