On the recordMay 15, 2019
if you watched ``60 Minutes'' on Sunday, you would not have been surprised that there was a segment relating to prescription drug pricing. Everywhere we turn, somebody is raising the question about why we are paying so much for prescription drugs and why the cost of these drugs has gone through the roof. We want to encourage research. We want to encourage innovation. We understand that these are profit-making companies, so we understand we will pay for that. But what we are seeing in terms of the pricing of drugs across America now is inconsistent with any of the history that we have had. It seems as if pharma believes that if they own a drug, they can charge whatever they can charge, and no one will question them. It makes a difference. Blue Cross Blue Shield, the largest health insurer in my State of Illinois, analyzed the cost of care in our State and nearby and asked: What is driving the increase in health insurance premiums? The cost of prescription drugs, even more than the cost of inpatient hospital care. Look at all of those big hospitals and all of the important work they are doing and expensive procedures they are involved in. All of that cost does not equal the rising cost of prescription drugs. That is why our health insurance premiums are going up, so it is understandable that more and more of us are talking about this and trying to find practical ways to approach it that might make things better.…





