September 3, 2018

America's absurd drug prices

The Hill -  Americans pay prices for prescription drugs that are two to six times the rest of the world, despite having personal incomes that are on par with many developed countries. For instance, the average price for Humira — a top-selling drug to treat rheumatoid arthritis — is nearly $2,700 per administration in the U.S., more than twice the price in the U.K. American salaries are not twice as high as British salaries.

... Nearly all countries except the U.S. have policies to lower drug prices, including price controls, regulations that limit the profitability of drugs, reference pricing, and cost-effectiveness thresholds (e.g., in the U.K., the National Health Service is the main purchaser of drugs and frequently does not cover therapies whose cost per "quality-adjusted" life year gained exceeds $50,000 per year).

1 comment:

Greg Gerritt said...

The reason the US does not limit drug prices is that it relies on the medical industrial complex as a key part of its economic growth strategy, which means there has to be ever greater percentages of the economy going into health care each year, ehhch means that no one can afford healthcare, as healthcare spending has to rise faster than incomes in this scenario. You can not have real healthcare if you run this type of for profit, regulatorially rigged towards capital, system.