On the recordFebruary 16, 2000
It takes about something on the order of 9 years and half a billion dollars to bring a product to market, to bring a new pharmaceutical product to market. That is a very expensive proposition. We need to make sure that there are industries in America, companies in America that want to continue to make that kind of investment and take that kind of risk. At the end of the day, an elderly woman who goes to her doctor because she has some kind of ailment and gets a prescription and takes that prescription to her corner drugstore, all she cares about is, can I afford to get this medicine that is going to make me better? She is not out to kill the pharmaceutical industry. She is not out to kill the biological industry or her corner pharmacist, for that matter, or the insurance industry. What she wants to know is, can I afford at a reasonable cost to get this drug so that I can take it home and get better and feel better and enjoy the rest of my days? What we have to figure out here as policymakers is how to bring all of these stakeholders, the medical community, the doctors, nurses, hospitals, the insurance industry, the pharmaceutical industry, Republicans, Democrats, Congress and the President, and above all, listen to the seniors, listen to the seniors and to the disabled who are in need of this benefit so that we can share their wisdom, and get beyond the political credit-taking and partisanship and solve this problem.
Source
govinfo.gov




