President Donald Trump has frequently cited a story about a wealthy Wall Street associate to argue that US prescription drug prices are unfairly high. The anecdote focuses on the massive cost difference for Ozempic between New York and London.
The $1,300 New York price tag versus London's $88
President Donald Trump claims a highly successful New York financier discovered a staggering price gap while traveling. according to the report, this unnamed associate found that the weight-loss drug Ozempic cost roughly 86 to 88 dollars in London, while the same medication from the same factory cost upwards of 1,300 dollars in New York.
This specific disparity serves as the foundation for the President's argument that pharmaceutical companies are exploiting the American publc. By using a billionaire as the protagonist, President Donald Trump attempts to demonstrate that the pricing system is so broken that even the most affluent citizens feel the financial sting .
The May 2025 executive order on most-favored-nation pricing
To address these discrepancies, President Donald Trump signed an executive order in May 2025 to implement a most-favored-nation pricing model. As the report says, this policy aims to prevent the US government from paying more for prescription drugs than the lowest price offered in other developed nations.
The high cost of GLP-1 medications, such as Ozempic, acted as a primary catalyst for this executive action. The administration's goal is to leverage international pricing benchmarks to force domestic price reductions, using the anecdote of the Wall Street financier as a recurring example of systemic inefficiency.
Novo Nordisk's $1 ,027 list price vs Trump's figures
There is a measurable gap between the President's rhetoric and official pharmaceutical data. Novo Nordisk, the company that manufactures Ozempic, lists the monthly pen at approximately 1,027 dollars before insurance or rebates are applied.
While this official figure is lower than the 1,300 to 1,370 dollar range cited by President Donald Trump, the actual out-of-pocket costs for patients often vary significantly based on their specific insurance coverage. This discrepancy highlights the complexity of US drug pricing, where list prices and actual costs rarely align.
A pattern of using 'fat slob' rhetoric for political leverage
Between May 2025 and June 2026, the narrtaive surrounding the Wall Street financier evolved from a story of professional brilliance to one of personal ridicule. president Donald Trump initially described the man as a neurotic but smart businessman, but by January 2026, he began calling the associate a "fat slob" and "extremely fat and sloppy."
This blending of policy advocacy with personal attacks is a recurring theme in the President's public appearances. He frequently praises the man's professional success—calling him "smart as hell"—while simultaneously mocking his physical health and claiming the man remains incapacitated despite using Ozempic.
Who is the anonymous Wall Street financier?
Despite the detailed clues provided by President Donald Trump, the identity of the billionaire associate remains unverified. The President claims the man begged for anonymity to protect his reputation, yet the report notes that Trump continues to provide enough details for public speculation.
Several key points remain unconfirmed: the actual identity of the financier, whether the $88 London price point is an accurate reflection of current UK pharmaceutical pricing for Ozempic, and whether the medication's lack of efficacy in this specific case is a medical reality or a political exaggeration.
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