One of the bizarre aspects of drug pricing in the U.S. is that the government is not permitted by law to negotiate the prices of drugs with pharmaceutical manufacturers. In most of the world markets, the national health authority in each country engages in long (and often difficult) discussions with drug sponsors about what the government is willing to pay for a newly approved drug. These negotiations dramatically reduce the cost of prescription drug prices throughout most of the world.https://537152de585dd1de10ae5c48765f46ab.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html
hBut not in the U.S. In the U.S., pharmaceutical companies can essentially dictate prices for their drug products, and Medicare and Medicaid are not allowed to challenge or disagree with the offer. If a company wants to charge $80,000 a year for a new drug, it can. If a company wants to increase the price […]