Policy & Medicine April 9, 2020
A new analysis conducted by the Council of Economic Advisers (a White House group that provides the president advice on economic policy) suggests that United States drug prices are not unreasonable, but instead, foreign governments are taking advantage of United States patients by systematically underpaying for drugs.
The study compared the prices of 200 top-selling branded drugs in the United States against fifteen developed countries. It found that European countries went from paying 51% of United States’ prices for many of the drugs in 2003 to only paying 32% in 2017. The report noted that governments outside of the United States tend to negotiate drug prices on behalf of their citizens, which artificially depresses the prices.
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