Why Does the United States Have the Highest Drug Prices in the World?

Prescription drugs are expensive.

Whether you’re taking them to recover from an illness or regularly require medication, buying your drugs from a pharmacy can add up. If you have health insurance, your ‘scrips still likely cost you more than they should. If you don’t have insurance, you likely only fill prescriptions you absolutely must have and avoid crucial but costly drugs.

But why are prescription drugs so pricey? Better yet, why does it seem like they go up in price all the time?

Bloomberg recently took a look at the soaring cost of drugs in the United States and revealed why they cost more than anywhere else. Unfortunately, the answer is more complicated and anti-consumer than one would hope.

Pharmaceutical companies in American can set drug prices to be pretty much whatever they want, barring any future legislation. If our country worked with pharmaceutical companies and set limits on drug prices like other countries, less fortunate patients wouldn’t have to worry about choosing between eating or staying healthy. Unfortunately, it doesn’t look like we’ll adopt that model any time soon.