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“The Prescription Drug Pricing Problem” with Bill Corr, former Deputy Secretary of HHS

Thursday, March 11, 2021, 1:00 PM until 2:30 PM
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“The Prescription Drug Pricing Problem” with Bill Corr, former Deputy Secretary of the Department of Health and Human Services. Bill holds a B.A. in Economics from the University of Virginia and a J.D. from Vanderbilt University School of Law. Bill has spent the bulk of his impressive career advocating for better healthcare access at almost every level of society. Bill’s major legislative and oversight responsibilities included the Brady Bill, the Nutrition Labeling and Education Act, prescription drug and state insurance regulation, the S&L industry, and several Supreme Court nominations. The average per capita spending on these drugs is $1000 and rising, while in other developed countries it is $600. Some argue that we are subsidizing these other countries, and the drug industry argues that the reason for the prices is their spending on research. The staggering data seem to argue against both excuses. is an issue which affects all of us, especially those of us who are of “a certain age.” Health Affairs points out: “To avoid reporting lower revenue and profits (due to the loss of patent protection on older drugs), drug manufacturers have been imposing large annual price increases, often 10 percent or more, on all drugs that remain protected by monopolies. The cumulative effect has been to double or triple the price of top-selling branded drugs such as Humira, Lyrica, Lantus, and many others. That is why US drug prices are the highest in the world.” Bill Corr, along with former Rep. Henry Waxman, has co-authored a major study of the problem of skyrocketing prescription drug prices and what can be done about it, which he will discuss. 

Presented by Little Falls Village in collaboration with COFFE (Council of Former Federal Executives & Associates).