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Pharmaceutical Marketplace Reform; Is Competition the Right Prescription?




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Stand:2015-08-04 03:50:33

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Excerpt from Pharmaceutical Marketplace Reform; Is Competition the Right Prescription?: Hearing Before the Special Committee on Aging, United States Senate, One Hundred Third Congress, First Session, Washington, DC, November 16, 1993 The Committee met, pursuant to notice, at 9:30 a.m., in room Dg-50, Dirksen Senate Office Building, Hon. David Pryor (Chairman of the Committee) presiding. Present: Senators Pryor, Reid, Feingold, Cohen, Grassley, Craig, Bums, and Specter. Opening Statement Of Senator David Pryor, Chairman The Chairman. Good morning, ladies and gentlemen. I want to welcome all of you to this mornings hearing. We want to extend a special thanks to all our fine witnesses who have come today to testify before the Special Committee on Aging. I would first like to say, speaking on behalf of Senator Cohen and all the members of the Committee, that we are very sorry we could not accommodate all the people and all the groups who wanted to testify this morning. But unfortunately, the very busy legislative calendar that we have limits the amount of time we can set aside for this hearing. In fact, we thought as we saw what this week was bringing that we might postpone this hearing until next year. But then we decided that it was too important and we should plow onward and go forward with it. We are very appreciative of the interest that has been shown. We would like to announce that the hearing record is going to be held open for a period of 2 weeks for the very purpose of allowing individuals and groups to express their opinions on this particular subject. This hearing this morning is going to focus on an issue that is very important to all of us on this Committee and to all of us in this room, to millions of older Americans, and all the various health care plans that purchase prescription medications. We are going to try to answer a very simple question this morning. It requires a lot of complex issues to wade through before we finally are going to find the ultimate solution. That ultimate solution and answer may not come until sometime next year, perhaps even the year after. But we hope we will be answering that question. The question is this: Will market forces and market competition be adequate to hold down drug prices? If the past says anything about the future, we may want to proceed with a bit of caution. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.


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