The launch of the Medicare Part D program to cover prescription drugs for seniors was one of the biggest changes in entitlement spending since the 1960s. What has the impact of this program been on patients and the U.S. health care system? Emerging data on the pharmaceutical industry in particular and the overall health care economy in general have allowed researchers to begin to answer this question. At this event, Lambert van der Walde of the Centers for Medicare & Medicaid Services will deliver special remarks, and leading academics will discuss initial studies of the effect of Part D on the use and pricing of prescription drugs. This newly generated data should inform assessment of the current program and suggest the changes, if any, that deserve consideration.