LIZ: THREE DAYS IN A ROW WE'VE
HAD A REALLY NICE SOLID MARKET A
LOT OF THAT HAS TO DO WITH THE
TRADE DEAL U.S. CANADA MEXICO
AND WHEN YOU DIG INTO THAT THE
AUTO INDUSTRY AND AGRICULTURE
HAVE BEEN SUCKING ALL OF THE
OXYGEN OUT OF THE TRADE DEAL
ROOM BUT ONE SECTOR GETTING A
SHOT IN THE ARM THE DRUGMAKERS.
U.S. MCA, THIS DEAL, PROTECTS
BIOLOGIC DRUGS FROM GENERIC
COMPETITION FOR AT LEAST 10
YEARS COMPARED TO THE CURRENT
PROTECTION OF EIGHT YEARS IN
CANADA AND JUST FIVE YEARS IN
MEXICO, SO IF YOU DON'T KNOW
WHAT BIOLOGICS ARE THEY COME
FROM LIVING ORGANISMS AND THEY
ARE GIVEN VIA INJECTION SO ENBRE
L, HUMARA, KEYTRUDA.
LET'S BRING IN THE MAN WHO SPENT
HIS ENTIRE LIFE DEVELOPING
CUTTING EDGE LIFE SAVING DRUG
THERAPY, CEO AND FOUNDER OF DRUG
THERAPY IN A FOX BUSINESS
EXCLUSIVE, DR. SAM WAKSAL, ALSO
A FELLOW AT THE ALZHEIMERS
DISEASE RESEARCH INSTITUTE.
GOOD TO HAVE YOU, THANK YOU FOR
BEING HERE.
>> THANK YOU.
LIZ: WHEN YOU LOOK AT THIS TRADE
DEAL AND YOU SAW THE PART ABOUT
THE PHARMA, WHAT WAS YOUR GUT
REACTION?
>> WELL AMERICA REALLY SUBS
IODIZES THE WORLD, OUR PHARMA
INDUSTRIES AND WHAT THIS DID WAS
KEEP BIOSIMILARS INTACT FOR TWO
EXTRA YEARS IN CANADA AND FIVE
EXTRA YEARS IN MEXICO SO IN
ANOTHER WAY, KEPT THE PATENTED
PRODUCT INTACT, SO THERE IS NO
BIOSIMILAR COMPETITION FOR AN
EXTRA PERIOD OF TIME IN BOTH
OF THOSE COUNTRIES THAT'S A BIG
DEAL FOR AMERICA.
LIZ: IT'S A BIG DEAL FOR
SOMEBODY LIKE YOU WHO WORKED SO
HARD TO DEVELOP DRUGS.
YOU'VE USED YOUR EDUCATION AND
INSTINCT AND ALL OF YOUR SWEAT
EQUITY SO WHY HAND IT OVER AFTER
JUST FIVE YEARS?
I GET THAT SO SOMEBODY CAN JUST
MAKE IT AND STEAL IT, BUT I HAVE
TO SAY, DOCTOR, THE WORRY COMES
WITH THE COST OF ALL OF THESE,
THAT IF THESE ARE PATENT
PROTECTED FOR SO LONG THAT MEANS
THE COST REMAINS HIGH DOESN'T IT
>> IT DOES MEAN THE COST
REMAINS HIGH, BUT THERE IS A LOT
OF PRESSURE IN AMERICA AS WELL
AS THE REST OF THE WORLD ON THE
PRICING OF DRUGS, AND IN AMERICA
, PART OF THAT'S BEEN NOT
THE PHARMACEUTICAL INDUSTRY, NOT
THE BIOTECH INDUSTRY, BUT RATHER
BECAUSE, FOR EXAMPLE, PHARMACY
BENEFIT MANAGERS WHO I BELIEVE
ARE RESPONSIBLE FOR AT LEAST 30%
OF THOSE PRICING INCREASES THAT
WE SEE, SO THERE WILL BE
PRESSURE ON DRUG PRICING.
THERE IS PRESSURE ON DRUG PRAIS
ING AND IT'LL BE PUSHED IN
A POSITIVE WAY.
LIZ: HOW MUCH HOPE DID YOU GET
FROM THE FDA IN A NEW AND
ACCELERATED WAY THEY'RE GETTING
GENERICS TO MARK ETIQUETTE?
PRESIDENT TRUMP HAD COME OUT AND
SAID SOME OF THE PHARMACEUTICALS
ARE GETTING AWAY WITH MURDER
BECAUSE THEY PRICE THEIR DRUGS
SO WHY.
WE JUST HAD THE HEAD OF THE FDA
ON AND ASKED HIM ABOUT THIS NEW
SORT OF SPED UP PROCESS.
HERE IS WHAT HE SAID AND I'LL
HAVE YOU RESPOND.
>> WELL THERE'S A LOT OF WAYS
IF WE BRING BETTER SCIENCE INTO
THE PROCESS WE CAN MODERNIZE
THAT PROCESS.
SOME OF THE THINGS ARE IN
DEVELOPMENT FOR A VERY LONG TIME
WE'RE TRYING TO ACCELERATE THAT.
LIZ: TALKING ABOUT THE EPIPEN
AND THE MYLAN SITUATION BUT HOW
DO YOU FEEL ABOUT THE FDA AND
ITS NEW WAY OF KEEPING THINGS
SAFE BUT HURRYING UP THE PROCESS
OF GETTING THINGS TO MARKET THAT
ARE LESS EXPENSIVE?
>> SCOTT GOTLEY HAS BEEN ONE OF
THE GREAT ADDITIONS TO OUR
GOVERNMENT.
HE IS AN UNBELIEVABLE
COMMISSIONER OF THE FDA AND HE'S
WORKING IN MULTIPLE AREAS, BOTH
WITH PATENTED PRODUCTS, DRUGS,
THAT ARE INNOVATIVE AND NOVEL IN
THE FIELD OF GENE THERAPY, IN
THE FIELD OF BIOLOGICS, IN THE
FIELD OF MEDICINES WHICH ARE
BEING MADE FOR ORPHAN DISEASES,
AND HE'S MOVING THOSE FORWARD.
SCOTT'S ALSO MOVING GENERICS
FORWARD MUCH MORE QUICKLY.
LIZ: YES.
>> BUT DOING IT INTELLIGENTLY
MAKING SURE THESE DRUGS ARE SAFE
FOR PATIENTS IN AMERICA.
LIZ: I WANT TO TALK ABOUT CHINA.
SO WE'VE GOT THE CANADA MEXICO
TRADE DEAL OUT OF THE WAY AND IT
IS BENEFICIAL TO PHARMA.
RIGHT NOW THERE'S SUCH TENSION,
THERE'S SIMMERING ANGER BETWEEN
THE TWO COUNTRIES, IT'S HE SAID
HE SAID AND WE DON'T SEE A REAL
COMING TOGETHER IN THE FUTURE AT
LEAST IN THE NEAR FUTURE;
HOWEVER, YOU'RE DEALING WITH THE
CHINESE.
WHAT ARE YOU WORKING WITH THEM
ON AND DO YOU GET A SENSE THAT
AT SOME POINT WE'LL SEE A
RESOLUTION BETWEEN THE TWO
COUNTRIES?
>> WELL, I'VE ALWAYS DEALT WITH
CHINESE COMPANIES AND JAPANESE
COMPANIES IN THE PAST.
THE AMERICAN BIOTECH INDUSTRY IS
PROBABLY ONE OF THE LAST STRONG
HOLDS OF INNOVATION IN
AMERICA, AND THAT'S SOMETHING
THAT DOESN'T EXIST IN THE REST
OF THE WORLD.
IT REALLY DOESN'T, AND THE
CHINESE NEED AMERICAN BIOTECH,
SO I DON'T BELIEVE THAT OUR
INDUSTRY IS GOING TO BE AFFECTED
IN THE SAME WAY AS SOME OF THE
OTHER ONES BECAUSE OF TARIFFS
AND I ALSO HAVE SEEN THAT
CHINESE COMPANIES WANT TO INVEST
IN AMERICAN BIOTECH BADLY.
LIZ: WE HAVE TWO AMERICANS
WINNING NOBEL PRIZES ONE WAS IN
CHEMISTRY OF FRANCIS ARNOLD, THE
GEORGE P. SMITH NOBEL PRIZE FOR
MEDICINE, J. P. ALLEN IT
PROVES AMERICA IS STILL VERY
MUCH ON TOP I WOULD IMAGINE AT
LEAST RIGHT AT THE TOP.
YOU'RE WORKING ON ALZHEIMER'S
THERAPIES.
PLEASE TELL ME YOU'RE CLOSE TO
SOMETHING.
>> WELL PEOPLE LIKE SCOTT SMALL
IN NEW YORK CITY WANTED CORNELL
AND ONE AT COLUMBIA ARE
TWO OF THE SMARTEST GUYS WORKING
IN ALZHEIMERS RIGHT NOW AND
CHANGING THE PARADIGM FOR WHAT'S
BEING WORKED ON AND I AM WORKING
ON THAT WITH THEM AND I THINK
WE'VE MADE SOME MAJOR
BREAKTHROUGHS AND IT'S IMPORTANT
BECAUSE AS YOU KNOW, WE'RE
SPENDING ABOUT $200 BILLION A
YEAR IN THE UNITED STATES RIGHT
NOW ON JUST TAKING CARE OF
ALZHEIMERS PATIENTS.
BY THE MIDDLE OF THE NEXT DECADE
, THAT NUMBER IS PROBABLY
CLOSER TO A TRILLION DOLLARS, IT
WOULD BANKRUPT AMERICA IF WE
DON'T FIND SOMETHING, AND I
THINK WE WILL.
SO I THINK THAT'S AN EXCITING
THING.
I ALSO THINK THAT THE NOBEL
PRIZE IN IN YOU'LL O ONCOLOGY
AND I WAS UPSET THAT GORDON FREE
MAN DIDN'T TAKE PART OR JEFF
BLUESTONE DIDN'T TAKE PART BUT
THOSE WERE TECHNOLOGIES THAT
HAVE CHANGED THE WAY WE TREAT
CANCER IN AMERICA, WE'RE
RESPONSIBLE FOR KEYTRUDA AND OPT
IVO.
LIZ: GOOD FOR YOU THANK YOU SO
MUCH.
>> GREAT PLEASURE TO BE HERE.
LIZ: WHAT A HISTORY YOU'VE HAD
FROM CONTROVERSY TO CONTINUING