Thank you, Madam Chair. Thank you to each of the witnesses. Welcome, Senator Grassley.

So your testimony is this bill benefits Big Pharma and allows them to make more money. Is that right?

Of course, the relationship between insurers, PBMs, drug companies, and others are complex, opaque, and confusing both to consumers and to providers.

With every legislative solution, we got to consider the tradeoffs, especially when our solution is to grant additional authority to a government agency.

So if you are correct that this bill would hurt patients by driving up costs, typically when one group is being hurt in the economy, somebody else is doing better.

Thus, much of the higher spending on pharmaceuticals is baked into insurance premiums.

Much like everything in healthcare, the cost of drugs historically has risen faster than overall inflation.

Thus, much of the higher spending on pharmaceuticals is baked into insurance premiums.

No one wants higher drug prices, and I think we need to look for creative solutions to lower them.

Explain what you believe would be the negative consequences of this bill for a consumer at home that wants high-quality healthcare, high-quality pharmaceuticals at an affordable price.

So your testimony is this bill benefits Big Pharma and allows them to make more money. Is that right?

So if you are correct that this bill would hurt patients by driving up costs, typically when one group is being hurt in the economy, somebody else is doing better.