HHS Sec. RFK Jr.: The Only Way to Bring Baby Formula Prices Down Is to Bring More Competition to the U.S.

EXCERPT:

JONES: “So Mr. Secretary, will this help bring the cost down? Because we're looking at some of the numbers since 2017, the cost is up 41 percent.”
RFK JR.: “I don't think that this is going to bring the cost of baby formula down, but we need new -- we need competition. There are new companies that are making baby formula in this country. It's a very narrow market right now, and the only way -- which means there's only really four companies that are producing almost all of our baby formula.”
DOOCY: “Right.”
RFK JR.: “And when there's no competition, you're going to get high prices, and the only way that we're going to bring those prices down is to bring more competition in the United States, make sure that we can manufacture all of these products in the United States. This is a national security issue as well.”