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President Biden delivers remarks on lowering prescription drug prices

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Read Time:13 Minute, 6 Second

>>> > > > PRIOR TO I BEGIN, PERMIT ME TO SAY SOMETHING ABOUT THE FRYING PAN DETERMINEIK AND THE UNVACCINATED. INDIVIDUALS ARE LOOKING TO TRANSFORM A PUBLIC PRECAUTION AS KIDS USING MASKS IN COLLEGE SO THEY CONTAINER BE SAFE AS A POLITICAL DISPUTE. THIS ISN'' T ABOUT NATIONAL POLITICS. THIS HAS TO DO WITH KEEPING OUR YOUNGSTERS SAFE. I SAW A VIDEO AND RECORDS FROM TENNESSEE OF PROTESTERS THREATENING PHYSICIANS AND REGISTERED NURSES PRIOR TO A SCHOOL BOARD MAKING THE CASE THAT TO KEEP KIDS SECURE THERE OUGHT TO BE MANDATORY MASKS. AS THEY LEFT, THESE DOCTORS WERE THREATENED. THESE REGISTERED NURSES WERE THREATENED. THERE WERE THE HEROES WHEN THERE WAS NO VACCINATION. >> > > INDIVIDUALS BEING HOSPITALIZED AND ALSO CONNECTING AS A RESULT OF NOT BEING VACCINATED. TO THE MAYORS. INSTITUTION SUPERINTENDENTS, CITIZEN LEADER WHO IS ARE WITHSTANDING THE GOVERNORS LIT SIZING MASK PROTECTION FOR OUR CHILDREN. THANK YOU. THANKS TOO. THANK GOD THAT WE HAVE HEROES LIKE YOU. I STAND WITH YOU ALL AND ALSO AMERICA MUST INCLUDES WELL.

THERE AREN'' T A GREAT DEAL OF MATTERS THAT ALMOST EVERY AMERICAN CONTAINER AGREE ON. I THINK IT IS RISK-FREE TO SAY THAT EVERYONE, WHATEVER OUR HISTORY OR OUR AGE, WHERE WE LIVE CONTAINER AGREE THAT PRESCRIPTION MEDICINE RATES ARE OUTRAGEOUSLY PRICEY IN AMERICA. TODAY CONSERVE MONEY AND ALSO EASE THEIR WORRIES BY LOWERING THE EXPENSES OF PRESCRIPTION MEDICINES. LET ME BEGINNING BY ACKNOWLEDGING THE GROUNDBREAKING AND LIFE- CONSERVING WORK THAT MANY PHARMACEUTICAL PEN COMPANIES ARE DOING. LOOK NO FURTHER THAN THE VACCINES BEING MADE AND ALSO SUPPLYING IN HELPING United States BEAT THIS PANDEMIC AND ALSO CONSERVE LIVES. BUT WE CAN MAKE A DIFFERENCE IN BETWEEN ESTABLISHING THESE DEVELOPMENTS AND ALSO BOOSTING RATES ON A VARIETY OF MEDICATIONS FOR A VARIETY OF DAILY CONDITIONS AND ALSO CONDITIONS.

TODAY, RIGHT HERE IN AMERICA, WE PAY THE GREATEST PRESCRIPTION DRUG EXPENSES OF ANY DEVELOPED COUNTRY ON THE PLANET. ALLOW ME TO SAY THAT ONCE MORE. OF ANY DEVELOPED COUNTRY ON THE PLANET. CONCERNING 2 TO 3 TIMES WHAT OTHER NATIONS PAY. RECENTLY IN THE OVAL WORKPLACE, I ORGANIZED A SMALL SERVICE PROPRIETOR NAMED GAIL FROM DENVER. SHE WAS 60 YEARS OLD WITH. WHEN SHE WAS 11, SHE WAS IDENTIFIED WITH TYPE ONE DIABETES MELLITUS. FOR NEARLY 50 YEARS, SHE'' S HAD TO TAKE INSULIN TO REMAIN ALIVE. DO YOU KNOW WHAT SHE INFORMED ME? SHE CLAIMS SHE DOESN ' T FEAR ABOUT BECOMING BLIND OR HER BLOOD SUGAR LEVEL GOING DOWN ALARMINGLY LOW.

THE NATURAL WORRIES OF ANY KIND ONE DIABETES MELLITUS. SHE WORRIES ABOUT BEING ABLE TO SPEND FOR HER PRESCRIPTION MEDICATIONS. DURING OUR CONVERSATION, SHE PULLED OUT A VIAL OF INSULIN FROM HER BAG. IN 2001, SHE SAID, THAT SINGLE VILE COST $32 A CONTAINER. TODAY, THAT EXACT SAME CONTAINER WITH THE VERY SAME EXACT FORMULA, NO MODIFICATIONS, EXPENSE $280 PER CONTAINER. GAIL AND HER PARTNER WORK TOUGH. THEY SPENT INTELLIGENTLY. AS A RESULT OF THE EXPENSES OF PRESCRIPTION MEDICINES, HER HUBBY MAY NOT BE ABLE TO RETIRE. THEY CHAUFFEUR THE SAME CAR, SHE CLAIMED, SHE'' S HAD FOR 17 YEARS. AS WELL AS CAN NOT AFFORD FIX FOR A BRAND-NEW ONE. GAIL IS NOT THE ONLY ONE. IT IS ESTIMATED THAT EVEN MORE THAN 34 MILLION AMERICANS, 10% OF THE POPULATION OF THE UNITED STATES HAVE DIABETES MELLITUS, INCLUDING GREATER THAN 1.5 MILLION OF THOSE WITH KIND ONE DIABETES MELLITUS.

AS WELL AS THE HORRENDOUS EXPENSE INFLUENCING EVERYONE ACROSS THE BOARD SPANNING EVERY TYPE OF OF CONDITION OF THE ILLNESS IS SIMILAR. I KEEP IN MIND WHAT IT RESEMBLED WITH MY MOMMY AS SHE GREW OLDER AS WELL AS RELOCATED IN WITH UN. HER PRESCRIPTION MEDICINES WERE SO EXPENSIVE THAT IT TOOK ME AND THINK THREE SIBLINGS CONTRIBUTING TO COVER THE THOUSANDS OF COLLARS IN MONTHLY PRICES THAT SHE HAD TO EXHAUST RATHER THAN EXHAUST WHAT LITTLE SAVINGS SHE HAD FOR HER PRESCRIPTION MEDICINES. AND ALSO IT IS PERSONAL TO MANY PEOPLE. SO LOTS OF YOU. YOU UNDERSTAND, FOR GREATER THAN 1 MILLION AMERICANS DEALING WITH MULTIPLE SCLEROSIS, ONE COMMON MEDICINE FOR THAT CONDITION COSTS $7,100 PER MONTH. THE COST HAS GONE UP 1,000% OVER THE LAST TWO DECADES. OF ANY MODIFICATION. FOR EVEN MORE 1 MILLION PEOPLE WITH RHEUMATOID ARTHRITIS, THE COMMON PRESCRIPTION MEDICINE UTILIZED TO PRICE ABOUT $1,350 MONTHLY. THAT WAS INTRODUCED BACK IN 2003. TODAY, THE SAME DRUG COSTS $7,700 A MONTH. OVER 5 TIMES EVEN MORE EXPENSIVE WITH NO MODIFICATION. FOR MANY YEARS, THE PRICE OF LOTS OF PRESCRIPTION DRUGS IS SUBSTANTIALLY.

THESE PRICES PUT THE SQUEEZE ON A LOT OF FAMILIES WITH THEIR DIGNITY. THEY HAVE BEEN FORCED– AND COMPELLED PEOPLE RIGHT INTO HORRIBLE OPTIONS IN BETWEEN KEEPING THEIR HEALTH, PAYING THE RENTAL FEES AS WELL AS THE MORTGAGE, PUTTING FOOD ON THE TABLE, AND LITERALLY. THAT HOLDS TRUE FOR A GREAT DEAL OF FUNCTIONING FAMILIES AND ELDERS EVEN IF YOU CAN GET THE REMEDY YOU NEED. BUT TODAY, WORKING FAMILY MEMBERS FAMILIES AND ALSO A LOT OF SENIOR CITIZENS ARE HAVING A HARD TIME TO MAKE IT WORK. TODAY, ONE IN FOUR AMERICANS WHO TAKE PRESCRIPTION DRUGS BATTLE TO AFFORD IT. NEARLY 30% HAVE MISSED DOSAGES, CUT PILLS IN FIFTY PERCENT, BECAUSE THEY CANISTER'' T AFFORD THE EXPENSE. WE HAVE TO MODIFICATION THIS. WE CONTAINER. MY MANAGEMENT IS ALREADY TAKING CONSIDERABLE ACTIONS TO LOWER THE EXPENSES OF PRESCRIPTION MEDICATIONS. LAST MONTH, I SIGNED AN EXECUTIVE ORDER THAT HAS THE RESULT OF IMPROVING COMPETITION. THE MEDICATION COST. RIGHT NOW, WHEN A DRUG FIRM SEEKS APPROVAL FROM THE FDA FOOD AND DRUG ADMINISTRATION FOR A CERTAIN MEDICATION TO GET A LICENSE, IT HAS ALLOWED TO EXCLUSIVELY SELL THAT DRUG WITHOUT COMPETITION FOR APPROXIMATELY 12 YEARS. WHICH PERIOD EXPIRES, OTHER BUSINESS CONTAINER COME, MAKE THE EXACT SAME EXACT DRUG AND ALSO MARKET IT CHEAPER. IT IS CALLED GENERIC MEDICINES.

BUT UNFORTUNATELY, THAT COULD SAVE A GREAT DEAL OF TIME, YEARS AND YEARS FOR THIS TO HAPPEN. THAT IS WHY I HAVE ADVISED THE FEDERAL MEDICINE MANAGEMENT TO GET THESE MIRACLE DRUGS TO CONSUMERS FASTER. IT IS GOING TO BOOST COMPETITION. LOWER DRUG RATES FOR EVERYBODY. RESEARCH SHOWS THAT RATES COULD BE CUT BY 25 TO 33%. TO CONSERVE $54 BILLION FOR CONSUMERS OVER THE NEXT 10 YEARS. MAKES A SIGNIFICANT DIFFERENCE FOR AN AVERAGE FAMILY MEMBERS. SECOND OF ALL, THE FDA TO COLLABORATE WITH STATES AND PEOPLE TO IMPORT PRESCRIPTION DRUGS SECURELY FROM CANADA. THESE ARE MEDICINES THAT THE FDA HAS ACTUALLY FIGURED OUT ARE SAFE AND ALSO THEY ARE GOING TO SEE TO IT THE DRUGS GET TO THE STATES AND ALSO PEOPLE SAFELY.

COLORADO ESTIMATES THAT THEIR VERSION OF THE DRUG IMPORTATION PROGRAM IS GOING TO CONSERVE 35 MILLION TO $06 MILLION A YEAR FOR PEOPLE IN COLORADO. REDUCING THE RATES DOWN BY GREATER THAN 60% FOR THE PRICES OF THE SAME DRUG. THESE THINGS– BY THE WAY T FIRM THAT IS MAKING THESE DRUGS AS WELL AS BILLING INFLATED PRICES ARE SELLING THE SAME MEDICINE IN OTHER NATIONS. AT CONSIDERABLY LOWER PRICES. IT IS NOT LIKE ANOTHER PERSON COMPANY ALWAYS PRODUCTION THIS DRUG. THE SAME. THESE THINGS BY THEMSELVES WILL CERTAINLY BE A WONDERFUL AID. BUT TO REALLY RESOLVE THE ISSUE, WE REQUIREMENT CONGRESS TO ACT. THAT IS WHAT MY BUILD BACK FAR BETTER STRATEGY WILL CERTAINLY DO. THERE HAS LONG BEEN TALK– A VERY LONG TIME. I WAS BACK IN THE SENATE. ABOUT GIVING MEDICARE. MEDICARE TAKES TREATMENT OF MILLIONS OF INDIVIDUALS. MEDICARE, MY STRATEGY IS GOING TO ALLOW THAT.

EVERY OTHER KIND OF HEALTHCARE SOLUTION FROM THE COST OF A DOCTOR TO JUST HOW MUCH A DOCTOR CAN FEE FOR A CHECK OUT, MEDICAL FACILITY BROWSE THROUGH, CRUTCHES, WHEELCHAIRS. MEDICARE IS ALLOWED TO BARGAIN SAYING WE'' LL PAY NO EVEN MORE FOR THE MEDICARE THAN THE ADHERING TO QUANTITY FOR THOSE THINGS. AS I STATED PRIOR TO, THE ONLY POINT MEDICARE IS FORBIDDEN TO BARGAIN ARE PRICES FOR PRESCRIPTION MEDICATIONS. MY STRATEGY ELIMINATES THAT RESTRICTION. WHILE I WAS RUNNING FORMENT, MEDICARE NEGOTIATE MEDICINE RATES THROUGHOUT THE BOARD. YOU CONGRESS IS CURRENTLY DEBATING MORE NARROW VISION LETTING MEDICARE WORK OUT SEVERAL OF THE MOST COSTLY MEDICINES. AND WHO DON'' T FACE COMPETITION FOR THAT DRUG. WE ' RE GOING TO PROVIDE THAT COMPETITORS VIA MEDICARE. MEDICARE IS GOING TO WORK OUT A FAIR PRICE. TODAY MEDICATION COMPANIES WILL SET A RATE AT WHATEVER THE MARKETPLACE WILL BEAR. SOME OF YOU MAY REMEMBER WHEN I HAD THE MOON SHOT GOING WHEN I WAS VICE PRESIDENT. I MET WITH 12 DRUG FIRMS, AND ALSO I AGREED I WOULD NOT NAME THEM AT THE AT SOME TIME. IT WAS JUST A PERSONAL DISCUSSION.

I CLAIMED IF ANY AMONG YOU THOUGHT OF A MEDICATION THAT HEALED A PARTICULAR KIND OF CANCER, WHAT DO YOU ASSUME YOU SHOULD HAVE THE ABILITY TO FEE FOR IT. I SAID WHATEVER THE MARKETPLACE WOULD BEAR. WHATEVER LIT BEAR. THEY OFTEN MEANS A SUBSTANTIAL VARIETY OF PEOPLE CANISTER'' T AFFORDABLE UNDER ANY CIRCUMSTANCE. THEY'' LL DIE WITHOUT IT.

THAT IS UNACCEPTABLE. WHAT WE ARE PROPOSING AS IT WILL BARGAIN WITH A BUSINESS BASED ON A FAIR COST. ONE THAT REFLECTS THE COST OF THE RESEARCH STUDY AS WELL AS ADVANCEMENT AS WELL AS THE REQUIREMENTS OFFERING A CONSIDERABLE REVENUE. THAT IS STILL AFFORDABLE FOR CONSUMERS. BY THE METHOD, IF THERE IS A CONSIDERABLE AMOUNT INVESTED AND A REASONABLE PRICE IS EXPENSIVE, WE'' RE GOING TO NEED TO FIGURE OUT HOW SOCIETY WITH AFFORD TO PAY FOR A MEDICINE. THAT IS WHAT WE ARE LOOKING TO OBTAIN DONE, AND ALSO IT HAS TO ACCOMPLISH. NOT ONLY THAT MY PLAN CAPS THE QUANTITY THAT SENIORS NEED TO INVEST IN PRESCRIPTION MEDICINES EVERY YEAR AT MONTHER NO GREATER THAN $3,000 A YEAR, OUR STRATEGY STATES THAT DRUG COMPANIES CAN JUST RAISE RATES BASED ON THE QUANTITY OF RISING COST OF LIVING. STUDIES HAVE SHOWN IF WE ACCOMPLISH THIS, WE CONTAINER CONSERVE ELDERS THOUSANDS OF DOLLARS A YEAR.

FOR EXAMPLE, AN EXPENSIVE MEDICINE FOR A CANCER CALLED MULTIPLE MYELOMA CANISTER COST $20,000 A MONTH. $20,000 A MONTH. INDIVIDUALS THAT REQUIRED THAT DRUG PAY AN STANDARDS OF $1,300 A MONTH EXPENSE DESPITE HAVING MEDICARE. WHAT I AM PROPOSING WOULD REDUCE THE OVERALL EXPENSE BY THOUSANDS OF DOLLARS. ELDERS WOULD NOT PAY EVEN MORE. AND INCIDENTALLY, IT JUST– SENIORS WILL BENEFIT. FOR ALL AMERICANS. RIGHT HERE IS HOW. MEDICARE RATES ARE AVAILABLE WITH EXCLUSIVE INSURANCE BUSINESS AND ALSO IT WOULD DECREASE THE EXPENSES OF EMPLOYER-BASED MEDICAL INSURANCE INSURANCE COVERAGE.

WHAT THAT MEANS IS AS SOON AS MEDICARE DISCUSSES A LOWER DRUG CRISIS RECIPIENTS AN COMPANY. AND ALSO THE SAME DRUG AND ALSO THE SAME. AS WELL AS OUT MEDICARE, AND ALSO OBTAIN YOUR PRESCRIPTION MEDICINES. AS WELL AS YOUR INTENDS SHOULD PAY THE VERY SAME COST FOR THAT DRUG AS SOMEONE ON MEDICARE. IT SUGGESTS DRUG BUSINESS WOULD HAVE TO MARKET THEIR DRUGS TO ALL DISTRIBUTERS AT A MEDICARE COST. OR CONFRONT A 95% EXCISE TAX. THE COST SAVINGS FROM EMPLOYERS AS WELL AS EMPLOYEES WOULD BE BILLIONS OF DOLLARS A YEAR. YOU WEAR'' T HAVE TO STOP THERE. MY PLAN INCREASES MEDICARE BY ADDING DENTAL, VISION, AS WELL AS HEARING WHICH OUGHT TO MAKE A GLOBE OF DISTINCTION FOR MILLIONS OF INDIVIDUALS WE CANISTER TAKE SEVERAL OF THAT FINANCIAL SAVINGS AND CREATETH WHEN MEDICARE IS NO LONGER FORCED TO SPEND FOR COSTLY MEDICATIONS. WE CAN USE IT TO REDUCE COSTS AND ALSO ENHANCE ACCESSIBILITIES FOR INDIVIDUALS WITH INSURANCE COVERAGE ON MEDICAID AS WELL AS THE AFFORDABLE TREATMENT ACT.

AND ALSO IT WILL LIKEWISE REDUCE THE EXPENSES AS WELL AS SAVE LIVES. NOW, AMERICANS ONLY SPEND FOR PRESCRIPTION MEDICATIONS. WAY TOO MANY DRUG FIRMS DON'' T USAGE THE REVENUE NEARLY SUFFICIENT TO INVITE OR RESEARCH STUDY. A LOT OF FIRMS UTILIZE IT TO ACQUIRE BACK THEIR OWN STOCK, INFLATE THEIR WORTH, DRIVE UP CHIEF EXECUTIVE OFFICER'' S WAGES AND SETTLEMENT, AND FIND WAYS TO BOX OUT THE COMPETITION. IN FACT, AS STATED BY ONE STUDY F2016 TO 2020, PHARMACEUTICAL BUSINESS SPENT $577 BILLION IN SUPPLY BUYBACKS AS WELL AS DIVIDENDS. 56BILLION MORE IN R & D OVER THAT SAME TIME PERIOD. APPEARANCE, FOLKS, THEY MUST HAVE THE ABILITY TO MAKE A SIGNIFICANT EARNINGS. WHY OUGHT TO WE BE PAYING TWO OR 3 TIMES WHAT OTHER OTHER COUNTRIES ON THE PLANET ARE SPENDING FOR A COMPARABLE MEDICINE.

THERE IS SO MUCH WE CAN DO. FOR INSTANCE, AT THE DEFENSE DIVISION, THOSE THAT. >> > > THERE IS SOMETHING CALLED A PROTECTION ADVANCED RESEARCH JOB COMPANY. COLLECTION UP AN SPECIAL DEFENSE DEPARTMENT TO SEEK THE CUTTING EDGE RESEARCH STUDY TASKS THAT IMPROVE OUR NATIONAL PROTECTION. AN OUTFIT THAT THOUGHT OF THE WEB, GPS, AND A GREAT DEAL OF MATTERS. I AM PROPOSING WE DO A SIMILAR THING. I RECOMMEND WE SPEND $6.5 BILLION FOR A SIMILAR AGENCY WITHIN THE NATIONAL INSTITUTE OF HEALTH AND WELLNESS CALLED DEVELOPMENT RESEARCH JOB COMPANY. TO HELP RATE ADVANCED RESEARCH STUDY AND HOW TO IDENTIFY, TREAT AND TREAT ILLNESS LIKE ALZHEIMER'' S, DIABETIC ISSUES, AS WELL AS CANCER CELLS. IT IS PERSONAL TO A LOT OF PEOPLE AVAILABLE THAT WE CAN DO THIS. I AM NOT CRITICIZING COMPANIES THAT AREN'' T PREPARED TO SPEND BILLIONS OF DOLLARS ON CERTAIN PROJECTS TO RESEARCH. I OBTAIN IT. IF THEY ARE NOT, WE SHOULD. TO MAKE CERTAIN AMERICANS ARE COVERED. BELOW IS ANOTHER BIG THING THAT WILL CERTAINLY ASSIST MILLIONS OF AMERICANS AFFORD THEIR PRESCRIPTION MEDICINES. GETTING THEM AFFORDABLE MEDICAL INSURANCE. IF ANY INDIVIDUAL IS CONCERNED REGARDING OBTAINING WELLNESS INSURANCE COVERAGE DURING THE PANDEMIC, THERE IS HELP. TODAY. FOR THOSE WHO GET THEIR INSURANCE VIA THE AFFORDABLE CARE ACT, WE'' RE COVER TREATMENT MORE INDIVIDUALS WITH BETTER PERKS AS WELL AS PREMIUMS 40% LOWER. THAT MEANS THE AVERAGE COSTS HAS BEEN CUT BY $104 A MONTH. TO $62 A MONTH. MENT $62 A MONTH INCLUDING MEDICAL PROFESSIONAL'' S SEES. IN FACT, GREATER THAN THIRD AFFORDABLE CARE ACT. YOU FOR LESS THAN TEN DOLLARS A MONTH. EARLIER TODAY, I ANNOUNCED THAT MORE THAN 2,500,000 HEAR AMERICANS HAVE ACTUALLY AUTHORIZED UP FOR INSURANCE COVERAGE UNDER THE AFFORDABLE CARE ACT. CONSIDERING THAT I CALLED FOR An UNIQUE ENROOMMENT DURATION DURING THIS PANDEMIC. PEOPLE, IF YOU DON'' T HAVE INSURANCE POLICY, YOU CONTAINER STILL REGISTER FOR THE AFONDABLE CARE ACT THROUGH SUNDAY, AUGUST 19. SIMPLY GO TO HEALTHCARE. GOV TODAY AND ALSO OBTAIN COVERED.

ALL THOSE PEOPLE EXMESS PRESSING CONCERNS, I SURGE YOU TO ASSISTANCE THESE BASIC REFORMS THAT WOULD ALLOW DRUG COMPANIES TO STILL MAKE BILLIONS OF DOLLARS AS THEY HAVE A RIGHT TO ACCOMPLISH AND ALSO ADDRESS ONE OF THE LARGEST OUT OF POCKET EXPENDITURES THAT HOUSEHOLDS DEAL WITH, PRESCRIPTION MEDICATIONS. WE CANISTER DO THIS. PERMIT ME TO CLOSE WITH THIS. I HAVE LONG CLAIMED HEALTH CARE NEED TO BE A RIGHT, NOT A PRIVILEGE IN THIS COUNTRY. WITH MY BUILD BACK BETTER STRATEGY, WE HAVE AN POSSIBILITY AHEAD TOGETHER AS WELL AS OBTAIN United States EVEN CLOSER TO THAT FACT. AND THE AMERICAN INDIVIDUALS SUPPORT IT BY OVERWHELMING BIPARTISAN MARGINS. THIS ISN'' T An UPHOLDER. ALZHEIMER'' S, DIABETES, CANCER. THEY DON'' T TREATMENT IF WE ARE DEMOCRAT OR REPUBLICAN. THIS HAS TO DO WITH WHETHER OR NOT úY I ANTICIPATE CONGRESS GETTING THIS DONE. AND ALSO THERE IS ANOTHER LOCATION. THIS IS ANOTHER PERSON LOCATION WE CAN COLLABORATE AS WELL AS MAKE A DIFFERENCE.

THANK YOU. MAY GOD HONOR YOU.

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