IN LOCALLY AT LEAST.
BACK TO YOU.
JACKIE: KRISTINA PARTSINEVELOS.
THANK YOU SO MUCH.
THE WHITE HOUSE PROPOSING A PLAN
TO LOWER DRUG PRICES THROUGH
INTERNATIONAL PRICE INDEXING.
NOW NEW ADS ARE OUT OPPOSING
THIS PLAN AND WHAT IT COULD MEAN
FOR AMERICAN MANUFACTURERS.
LISTEN TO THIS.
>> PRICE-SETTING SCHEMES
MANIPULATED BY FOREIGN
GOVERNMENTS COULD HARM
INNOVATION AND CRITICAL R&D
INVESTMENTS.
SUPPORT ACCESS TO LIFE-SAVING
MEDICINES AND THE MANUFACTURERS
WHO MAKE THEM.
JACKIE: PRESIDENT TRUMP FIRING
BACK ON TWITTER TODAY TWEETING,
QUOTE, BIG PHARMA IS TAKING ADS
AGAINST ME BECAUSE I AM
MASSIVELY LOWER YOUR DRUG PRICES
WHICH IS OBVIOUSLY NOT GOOD FOR
THEM.
MEDICARE PREMIUMS WILL ALSO BE
GOING DOWN.
I AM THE FIRST PRESIDENT TO TAKE
THEM ON.
DON’T FALL FOR THEIR FALSE ADS.
BIDEN’S PLAN IS FOR VERY BIG
INCREASES.
JOINING US NOW WITH MORE, JAY
TIMMONS, NATIONAL ASSOCIATION OF
MANUFACTURERS PRESIDENT AND CEO.
GREAT TO HAVE YOU WITH US, SIR.
LET’S GO AHEAD AND TALK ABOUT
WHAT THE CONCEPT OF PRICE
INDEXING IS FOR MANY PEOPLE WHO
DON’T KNOW.
WE KNOW THE STORIES ABOUT PEOPLE
GOING TO OTHER COUNTRIES TO GET
THEIR DRUGS FOR CHEAPER PRICING.
WHY WE CAN’T BRING OUR OWN COSTS
DOWN HERE AT HOME AND WHY THE
PRESIDENT IS PROPOSING THIS
IDEA?
>> YEAH.
WELL, FIRST OF ALL LET ME JUST
SAY KUDOS TO THE PRESIDENT,
KUDOS TO ANY POLITICIAN OR ANY
ELECTED OFFICIAL WHO WANTS TO
SEE THE PRICE OF PRESCRIPTION
DRUGS GO DOWN AND THE COST OF
HEALTH CARE TO GO DOWN.
I THINK WE ALL DO.
I REPRESENT MANUFACTURING.
I REPRESENT MANY OF THOSE
EMPLOYERS WHO ARE PROVIDING
PLANS TO BE ABLE TO PROVIDE
PRESCRIPTION DRUG COVERAGE FOR
THEIR EMPLOYEES.
SO OBVIOUSLY WE WANT TO SEE THE
PRICE GO DOWN TOO BUT THIS IS
JUST NOT THE RIGHT WAY TO DO IT.
INTERNATIONAL PRICE INDEXING
ACTUALLY PEGS THE COST OF DRUGS
TO OTHER COUNTRIES
PHARMACEUTICAL PRICE WHERE THOSE
PRICES MAY HAVE BEEN MANIPULATED
BY GOVERNMENT SCHEMES OR PRICE
CONTROLS OR EVEN SOCIALISTIC
POLICIES.
THESE ARE THE TYPES OF THINGS
THAT THE LAST CAMPAIGN WAS
ARGUED ON.
WE DIDN’T WANT TO SEE THE
GOVERNMENT TRYING TO INTERFERE
IN OUR HEALTH CARE POLICY AND AT
THAT TIME IT WAS THE AFFORDABLE
CARE ACT.
THESE ARE THE TYPES OF POLICIES
THAT WERE REJECTED FOUR YEARS
AGO AND WE THINK THEY NEED TO BE
REJECTED AGAIN.
IT IS NOT GOOD.
WHAT WE NEED IS COMPETITION.
WE NEED TO MAKE SURE WE HAVE
CHOICE AND ACCESS AND
AVAILABILITY SO THAT WE CAN MAKE
SURE THAT AMERICANS ARE GOING TO
BE ABLE TO TAKE ADVANTAGE OF
LIFE-SAVING DRUGS FOR THE NEXT
PANDEMIC OR FOR ALZHEIMER’S AND
OR FOR CANCER OR MULTIPLE
SCLEROSIS.
WE CAN’T DO THAT IF THE
GOVERNMENT IMPOSES ARTIFICIAL
BARRIERS.
JACKIE: YOU BRING UP A GOOD
POINT.
YOU TALKED ABOUT THE INNOVATION.
THAT WE HAVE THE BEST HEALTH
CARE HERE IN THE UNITED STATES
FOR A REASON.
BECAUSE THESE COMPANIES THAT ARE
INNOVATING.
JUST ONE SECOND.
SO IT WOULD ACTUALLY STIFLE
THEIR ABILITY OR AT LEAST THE
INCENTIVE TO PUT SO MUCH MONEY
INTO THEIR RESEARCH AND
DEVELOPMENT, TO DEVELOP THESE
DRUGS, IF THEY WEREN’T GOING TO
BE ABLE TO PROFIT FROM THEM?
>> WELL THAT’S EXACTLY RIGHT
AND, LOOK, OUR SYSTEM IS NOT
PERFECT.
WE KNOW THAT.
WE NEED TO ALL WORK FOR BETTER
SOLUTIONS BUT THE NUMBER ONE
GOAL, THE NUMBER ONE GOAL SHOULD
BE TO MAKE SURE THAT WE CONTINUE
TO BE FIRST.
THAT AMERICA CONTINUES TO BE
FIRST WHEN IT COMES TO RESEARCH
AND DEVELOPMENT OF NEW
PHARMACEUTICAL INNOVATIONS.
THAT CURE THESE, THAT CURE THESE
TERRIBLE DISEASES.
IT IS AMERICAN INGENUITY THAT
ALLOWED US TO HAVE SUCH A, SUCH
A BROAD ARRAY OF OF SOLUTIONS
AND, AND CURES, TO THESE DEADLY
DISEASES.
CANCER IS NOT CURED YET, JACKIE.
JACKIE: NO, IT IS NOT.
JAY, LET ME ASK YOU THIS, IF
PRICING IS NOT THE BEST WAY TO
DO IT, WHAT WOULD BE THE BEST
WAY?
>> WELL, COMPETITION.
COMPETITION -- WE BELIEVE IN A
FREE MARKET ECONOMY, RIGHT?
AND, AND THAT’S WHAT, THAT’S
WHAT AMERICA’S GREATNESS HAS
BEEN BUILT ON.
THAT IS WERE WHAT OUR ECONOMIC
MIGHT HAS BEEN BUILT ON.
THE INTERNATIONAL PRICE INDEXING
SCHEME THAT IS BEING DISCUSSED
AT THE WHITE HOUSE IS NOT THAT.
IT IS ARTIFICIAL PRICE CONTROLS.
THAT NEVER WORKS.
THAT NEVER HELPS TO CREATE THAT
NEXT INNOVATION.
WE NEED TO MAKE SURE WE’RE ABLE
TO COMPETE AND SUCCEED.
AND FRANKLY, YOU’VE SEEN SOME
REDUCTIONS IN PHARMACEUTICAL
PRICES IN RECENT YEARS.
LET’S CONTINUE TO ALLOW
COMPETITION TO THRIVE SO THAT WE
CAN, WE CAN MAKE SURE THAT
HAPPENS IN THE FUTURE AS WELL.
JACKIE: ALL RIGHT.
JAY TIMMONS, THANKS FOR BEING ON