This article originally appeared at https://www.thestreet.com/video/13741980/faster-fda-approvals-of-new-drugs-would-lead-to-lower-prices-says-premier-ceo.html on Sept. 15, 2016.
With the CEO of Mylan preparing to appear before Congress next week to discuss EpiPen pricing, one healthcare executive says speedier drug approvals would help to lower the costs of medicine. "I don't think it's about any one product or one company. The FDA needs to speed up their process of approval," said Susan DeVore, CEO of Premier . "You need at least two to three competitors in the space to create the friction to drive the price down." DeVore also commented on the Affordable Care Act, saying she expects the basic framework of Obamacare will continue, even if there is a Republican sweep in the fall elections. Premier uses a membership model to reduce health care costs and improve quality for hospitals and healthcare providers. TheStreet's Rhonda Schaffler has details from Wall Street.