MedPage Today | August 9, 2023Read the Publication
Prescription drug prices in the U.S. are two-to-three times higher than peer nations. Why? Most peer countries use their purchasing power to negotiate prices with pharmaceutical companies. By law, Medicare has been prohibited from negotiating drug prices. That changed in August 2022, when Congress authorized negotiation for certain drugs. Protecting their bottom line, pharmaceutical companies launched a blizzard of lawsuits to block drug pricing negotiations.