LIVE: First Lady Melania Trump speaks at 113th First Lady's Luncheon

President Trump: Today I'm thrilled to announce that one of the most respected pharmaceutical companies anywhere in the world, frankly; I know it very well, is Regeneron, and it's agreed to offer their prescription medications at heavily discounted, most-favored nation prices.

President Trump: They have all new leadership, and they're fighting like cats and dogs over who's going to control [Iran], because we've created a real mess for them. But they've created a mess for the world over the last forty-seven years. They've killed a lot of people.

President Trump: Right now, we have it closed. We have total control of the Strait. And the fact that it's closed; you know, they would have opened it up three days ago. They came to us and they said, 'We will agree to open the Strait', and all my people were happy. Everybody was happy except me. I said, 'Wait a minute. If we open the Strait, that means they're gonna make five hundred million dollars a day'. I don't want them to make five hundred million dollars a day until they settle this thing. So I'm the one that kept it closed. We have total control of it, and it'll open when they make a deal, or something else happens that's very positive.

President Trump: I can only tell you this will end. I don't think it will be very long, by the way. They're delaying it because they; we don't know who to deal with. They know who the leader is in this country. We don't know who the leader is in Iran. Because, remember, regime change. Khomeini is gone. He's gone to greener pastures. He's gone, and all of his team is gone. Then a second group came in, they're all gone. And now you have the third group, and they're a little concerned about being gone too.