NOTE: Below are prepared
remarks by Senator Chuck Grassley on returning
as chairman of the Senate Finance Committee followed by his prepared statement
for the hearing on Drug Pricing in America.
Before we begin, I wanted to say a few
words about returning as chairman.
Twelve years ago, when I last sat in this
chair, we got a lot done. Nearly all of it was bipartisan.
I’m eager to pick up where we left off. It
may be a bit harder to get bipartisan work done these days, but I hope we can
prove the naysayers wrong.
It’s also an honor to lead
this committee alongside Ranking Member Wyden. We’ve worked very closely over
the years, across the aisle, especially on protecting whistleblowers.
I hope to work with all of you in good faith. We will surely have
disagreements with each other at times. But I hope we use this Congress as an
opportunity to improve the lives of our constituents. I know that’s what
motivates everyone here, Republican and Democrat. In fact, last Congress,
I introduced a bipartisan healthcare bill with each of the Democratic Members
of this committee. I hope to do that again as chairman.
Prepared Statement
by Senator Chuck Grassley of Iowa
Chairman, Senate
Finance Committee
Hearing on Drug
Pricing in America: A Prescription for Change, Part 1
Tuesday, January
29, 2019
I
want to welcome the witnesses and thank them. The information they will share
will help inform the committee as it addresses the issue of high prescription
drug prices.
Millions
of Americans woke up this morning and started the day with their dose of prescription
medication.
For
so many of our loved ones who have diabetes, high blood pressure, cystic
fibrosis, epilepsy, or other chronic health conditions, prescription drugs are
a basic necessity of life.
We
need to continue to have a strong research engine to develop new treatments,
but we must also have a discussion about the affordability of these drugs.
Today
you will hear many numbers describing the costs of prescription drugs.?
Those
numbers are impressive, but the stories I have heard from patients, doctors,
and pharmacists in Iowa have really gotten my attention.
I
have heard stories from doctors and pharmacists about skyrocketing prices of
commonly used generic drugs. Usually generics are a way to keep costs
reasonable.
I
have also heard from seniors who have seen their prescriptions increase month
after month for no apparent reason.
And
I have heard stories about people reducing their life-saving medicines, like
insulin, to save money.
This
is unacceptable and I intend to specifically get to the bottom of the insulin
price problem.
But
other drugs are creating problems too. That is why tackling high prescription
drug costs is one of my first priorities as Chairman of the Senate Finance
Committee.
The
reasons for these high prices are complex. I plan to hold a series of hearings
in order to identify and address these reasons.
We
will look at all aspects of the prescription drug market and make changes where
necessary.
So,
where do we start?
I
believe we should start with transparency.
When
it comes to drug prices, you should not need a PhD in economics to understand
how much your prescription costs.
I
believe it starts with putting the list price of a drug on television ads.
I
am confident in the ability of Americans to use this information to make the
best decision for themselves.
Drug
advertisers want to tell consumers all of the benefits of the drugs.
They
are required to tell you about side effects.
But
they aren’t as gung-ho to share how much the drug cost.
The
President’s blueprint to lower drug prices includes a provision to include the
list price on TV ads. The administration has a proposed rule to do just that.
Senator
Durbin and I have been vocal in our support of this proposal.
I
look forward to the rule being finalized.
Senator
Wyden and I introduced the Right Rebate Act last week.
When
enacted, this bill will close the loop hole that allowed the manufacturer of
EpiPen to rip off taxpayers and consumers to as much as $1.27 billion.
Speaking
of transparency:
I
want to express my displeasure at the lack of cooperation from the
pharmaceutical manufacturers recently.
The
Senate Finance Committee has a long history of working in a bipartisan manner
to solve difficult problems for the American people.?
So,
when Ranking Member Wyden and I invited several pharmaceutical companies to
come and discuss their ideas to address high drug prices, I was extremely
disappointed when only two companies agreed to do that.
The
companies that declined said they would discuss their ideas in private, but not
in public.
One
company mentioned that testifying before the committee would create a language
barrier problem.
That
is not what I mean when I talk about transparency.
So,
we will extend the opportunity again in the future, but we will be more
insistent the next time.
Today,
however, I want to extend a welcome to the witnesses. I look forward to their
testimony.