https://www.thebody.com/article/greed-and-the-necessity-for-regulation
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Greed and the Necessity for Regulation

The Story of U.S. Drug Pricing Run Amok Isn't Just About Corporate Arrogance and Avarice -- It Is Also About Government Permissiveness and Inaction

    FIGURE: Price Controls in High-Income Countries
    FIGURE: Price Controls in High-Income Countries OECD member country expenditures on retail pharmaceuticals, per capita (US$), 2013 (or nearest year) The disparity in drug prices between the United States and other high-income nations -- listed in this bar graph of retail pharmaceutical expenditures are country members of the Organization for Economic Cooperation and Development (OECD) -- certainly contributes to the growing public outrage at their prohibitive costs and the demand for more aggressive price controls. In fact, the United States is the only country in the OECD that does not impose price controls directly on the pharmaceutical industry. Examples of price controls in other high-income countries include: maximum annual national budgets dedicated to drug expenditures; prescribing budgets and caps placed on health care providers and clinics; pharmaceutical company profit controls; price controls on specific drugs or within classes of drugs; setting prices based on comparisons with those in other countries; and economic evaluations. The result? In the United States, the level of pharmaceutical spending was twice the 2013 OECD average and more than 25 percent higher than in Canada, the next highest spender. At the other end of the scale, Denmark spent less than half the OECD average. Adapted from: OECD (2016), Pharmaceutical spending (indicator). doi: 10.1787/998febf6-en.
    Tim Horn

    Tim Horn

    Tim Horn is the director of medication access and pricing for NASTAD, a U.S. public health advocacy nonprofit focused on HIV and hepatitis. He has been a leading HIV advocate, journalist, researcher, and policy expert since the early 1990s.

    Kenyon Farrow

    Kenyon Farrow

    @kenyonfarrow

    Kenyon was the senior editor of TheBody/TheBodyPro from 2017 to 2020. He is the co-executive director of Partners for Dignity & Rights, a U.S. organization advocating for social and systemic justice.

    Erica Lessem

    Treatment Action Group

    Treatment Action Group