Transcript: Dr. Mehmet Oz on "Face the Nation with Margaret Brennan," Aug. 23, 2026
The following is the transcript of an interview with Dr. Mehmet Oz, Centers for Medicare & Medicaid Services administrator, that aired on "Face the Nation with Margaret Brennan" on Aug. 23, 2026.
On August 23, 2026, Dr. Mehmet Oz, the Centers for Medicare & Medicaid Services administrator, discussed healthcare costs and drug pricing in an interview on Face the Nation with Margaret Brennan. The good news, he said, was a 3.1% drop in drug prices year-over-year in July. However, not all drugs benefited equally, and only 17 companies representing 85% of the drug sector agreed to the Most-Favored-Nation drug pricing policy.
Dr. Oz explained that the policy aimed to prevent drug companies from charging three times more for the same products made in U.S. facilities than they charge in other countries. By implementing the policy, the administration wanted to ensure stability in the market while driving down costs for American consumers. The policy had already begun to show results, with Medicare beneficiaries starting to access these deals, and some medications like GLP-1 drugs becoming more affordable for seniors.
Dr. Oz highlighted that the savings from implementing the Most-Favored-Nation drug pricing policy were substantial and expected to increase further. He emphasized that the policy would benefit all new drugs released in the U.S. by the large companies, thus driving down prices over time. Despite concerns about innovation, Dr. Oz defended the law's impact on innovation, stating that it did not coerce companies into stopping innovation and that the risks had been carefully considered.
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