Posted by Michael Wonder on 15 Jan 2019
Here's why many prescription drugs in the US cost so much—and it's not innovation or improvement
14 January 2019 - Americans spend about $1,200 on prescriptions drugs a year, according to the latest figures from the Organisation for Economic Cooperation and Development. That's more than people pay in any other developed country in the world.
In the past, pharmaceutical companies have attributed high prices to innovation, arguing that new and improved drugs are naturally more expensive. But a new study published in the journal Health Affairs complicates that idea.
It suggests that, largely, costs have gone up because companies are raising the price of drugs that are already available.
