I went to the doctor recently for a common ailment, and he prescribed an antibiotic. I said, Well, Doc, let's check the price on that before we go any further. He said, Oh, don't worry about it. It is commonly used throughout the world. It is about $6. Well, guess what? It was $6 dollars in the year 2011; and now the list price is about $430. Now, I have insurance provided by the House of Representatives, which I am thankful for, but even with that, it is still close to $200. And then you have to start searching for a coupon to try to bring it down a little bit more. So why does an antibiotic, that just a few years ago cost $6 now cost over $400 if someone has to pay cash? Why? Why? This is one of the premier questions before this body. And we debated this today in a prescription drug bill, and it was a robust debate and a good debate. And as I said earlier, I commend my Democrat colleagues for raising the issue and putting something on the table. There were substantive policy disagreements with that bill. There is a realistic fear that if that bill became law, which the President said he will not sign, that we would undermine America's leading role in inventing lifesaving drugs. But there are real considerations as to how to contain costs. {time} 1545 We should be focused on negotiations and government programs.…
Jeff Fortenberry: “I went to the doctor recently for a common ailment, and he prescribed an antibiotic. I said, Well, Doc, let's check the…”
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No, other than again to thank you, Mr. Chairman, for your leadership. I think it has been a productive hearing to unpack this significant portion of America's public policy of both expenditures but also impact.
I think it is a critical new architecture for, again, establishing trust and economic well-being with continuity, using the best of the private market system with a little bit of subsidy.
Again, more money with a good intention is not necessarily the right outcome. This has to be standards of accountability, metrics that determine, are we making progress toward the outcomes we achieve?
Listen, China is on the march. They have a hybrid capitalistic/communistic system that directly subsidizes industry.





