Bill Cassidy - Ranking Member of the Senate HELP Committee | Official U.S. Senate headshot
Bill Cassidy - Ranking Member of the Senate HELP Committee | Official U.S. Senate headshot
U.S. Senator Bill Cassidy, M.D. (R-LA), the ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, delivered remarks during a committee hearing to discuss weight loss drugs.
"Nearly one in three Americans live with obesity, and nearly one in ten have type 2 diabetes," Cassidy stated. He emphasized the significant complications associated with obesity, noting that it leads to more chronic diseases than any other condition and results in almost $173 billion in health care spending annually.
Cassidy highlighted the potential of GLP-1 drugs to address obesity and its complications but acknowledged their high cost. "We can argue about the net price versus the list price. But they are expensive," he said.
He discussed the tension between incentivizing innovation and making these innovations affordable. "Without a profit-motive, without something in return, it’s unclear that these drugs and any other drug would ever be developed," Cassidy remarked.
Addressing drug pricing complexities, Cassidy noted, "There is no silver bullet, but there is silver buckshot." He stressed the importance of preserving incentives for creativity while addressing factors contributing to high drug prices.
Drawing from his medical experience, Cassidy recounted how Tagamet revolutionized ulcer treatment: "In medical school... removing a portion of someone’s stomach because of ulcer disease was a common surgery... then along came a drug named Tagamet and within months, the surgery was hardly done at all."
As the committee examines GLP-1 affordability, Cassidy urged maintaining innovation incentives. He posed critical questions regarding Ozempic and Wegovy's high prices and patient costs at pharmacies.
Cassidy appreciated Mr. Jørgensen's attendance at the hearing and anticipated answers to these questions. He pointed out that while drug manufacturers play a significant role in pricing, broader systemic issues also need addressing.
He called for examining health insurance benefit design, price transparency, regulatory barriers, and government discount programs' effects on commercial market prices. Highlighting bipartisan efforts like last year's PBM Reform Act with Chair Sanders to lower prescription costs through misaligned incentive reforms affecting PBMs, Cassidy expressed hope for further legislative success.
"This is the kind of bipartisan work needed if we are to tackle the high costs patients face for GLP-1s and all drugs," he concluded.
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