Rising Prescription Drug Costs

Prescription drug prices in the US are, to say the least, unpleasantly high. Now, there are a plethora of reasons for this (e.g., use of brand-name drugs over generics, long waits on approvals for new drugs), but one that could be easily addressed is blatant price gouging. Pharmaceutical companies routinely charge more in the US for the same drugs that are available in other parts of the world at vastly lower prices. Here’s a single sentence proposal for a law to address that problem:

“Any pharmaceutical company, or company offering products in the pharmaceutical category, operating in the US, or any territory or possession thereof, or which is subject to US law, must offer its products on an MFN basis to US consumers and businesses.”