Dave McCormick: “Pharmaceutical costs are about 20% of all healthcare costs.”

“The one thing that has happened which I think is a good sign, particularly for elders, we have a very significant aging population in Pennsylvania, as you all know, is pharmaceuticals. So Pharmaceutical costs are about 20% of all healthcare costs. Healthcare is about 20% of the economy. So about 5% of the overall economy is drug prices.” (41:26–41:30)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.