, Senator Lee, our staff, his staff who have worked well together. As well as Senator Grassley who is with us. Who has been such a leader when it comes to this competition issues. Thank you for being here, Senator Grassley. This is the latest in the Competition Policy Committee hearings, examining american monopoly problems. Today, we will focus on the lack of competition in our Prescription Drug markets. The stakes could not be higher. According to the center for care services, Health Care Spending accounted for 17. 7 percent of growth in 2019. More than 16 of the american economy. That is projected to rise to 19. 7 by 2028. Rising Prescription Drug prices is a key driver in those numbers. But, it is not just about gdp. It is also about the all too real human cost we will hear about today. For some, the ability to access Prescription Drugs is what enables them to work, care for their families and loved ones. To just get through the day without excruciating pain. For others, access to
This hearing runs two hours and 15 minutes. [inaudible] [inaudible conversations] [inaudible conversations] [inaudible conversations] i want to thank my colleague and our staff and his staff who work very well together as well as Senator Grassley who has been such a leader when it comes to these competition Issues Way before ites was cool so thank yu for being here, Senator Grassley. This is the latest in the Subcommittee Series of hearings examining americas monopoly problem. Today we are going to focus on the lack of competition in the Prescription Drug markets. The stakes could not be higher according to the centers of Medicaid And Medicare services, Healthcare Spending accounted for 17. 7 of u. S. Gross domestic products in 2019. That is more than 16 of the american economy. That is projected to rise to 19. 7 by 2028. And rising Prescription Drug prices is a key driver in those numbers but it isnt just about gdp. Its also about the all too real human cost that we will hear about to
, Senator Lee, our staff, his staff who have worked well together. As well as Senator Grassley who is with us. Who has been such a leader when it comes to this competition issues. Thank you for being here, Senator Grassley. This is the latest in the Competition Policy Committee hearings, examining american monopoly problems. Today, we will focus on the lack of competition in our Prescription Drug markets. The stakes could not be higher. According to the center for care services, Health Care Spending accounted for 17. 7 percent of growth in 2019. More than 16 of the american economy. That is projected to rise to 19. 7 by 2028. Rising Prescription Drug prices is a key driver in those numbers. But, it is not just about gdp. It is also about the all too real human cost we will hear about today. For some, the ability to access Prescription Drugs is what enables them to work, care for their families and loved ones. To just get through the day without excruciating pain. For others, access to
[inaudible conversations] [inaudible conversations] [inaudible conversations] good morning. I want to welcome everyone to our first Budget Hearing of this subcommittee for fiscal year 2022, and dr. Woodcock. Thank you so much for being here this morning. We are looking forward to your testimony and having a good discussion about the needs of the fda. The responsibilities of the fda are vast and have impact on every american. Thats been made even clearer during our response to covid19. We must continue to invest in safer drugs, safer medical devices and the safest Food Supply in the world. And for now and for the future. Dr. Woodcock, im looking forward to hearing your visions for the fda and what this committee can do to support your vital work. At work begins now with the fiscal year 2022 Budget Request thats in front of us, and the request for fda includes an increase of 343 elgin dollars in total budget authority. This increase touches a a wide array of activities at fda including p
The historic nature of the white house. Exploring the american story. Watch american history tv, this weekend on cspan3. Acting Fda Commissioner Dr. E Janet Woodcock testified on the president s 2022 Budget Request before a senate appropriations subcommittee. Do dr. Woodcock responded to a variety of questions in this hour, ten Minute Hearing related to covid19, new drug research, the fdas new drug approval process, and food labeling. [inaudible] [inaudible conversations] good morning. Good morning. I want to welcome everyone to our first Budget Hearing of this subcommittee for fiscal year 2022. And dr. Woodcock, thank you so much for being here this morning. We are looking forward to your testimony and having a good discussion about the needs of the Food And Drug he administration. The responsibilities at the fda are vast and have an impact on every american. M that has been made even clearer during our response to covid19. We must continue to invest in safer drugs, safer medical devi