InternetJeff In many other countries prescription drug prices are often lower because of government power and pricing rules to arbitrarily limit what manufacturers can charge. Price controls. We in the US pay more to offset/subsidize drugs sold in foreign markets.
That is what the pharmaceutical industry would like US consumers to believe. It’s not true.
Many nations have bodies to review pharmaceutical pricing. I can only speak to the Patent Medicine Prices Review Board (PMPRB) in Canada which is established in law, based in the Constitution and does not control or dictate prices. You can read a full outline of their work and practice here.
https://www.canada.ca/en/patented-medicine-prices-review/services/announcements-information/chairperson-speech-2023.html
Provinces are the largest purchasers of pharmaceuticals in Canada and negotiate prices directly with manufacturers based on list prices, discounts, rebates and other factors which are confidential to purchase agreements between supplier and purchaser. Manufacturers are free to negotiate prices with whomever they choose to negotiate with. If they charge higher prices in one country and negotiate lower prices with another, that is on them, not any “price control” regime. But the companies like their version of the facts. It convinces the public they are victims. Their share prices and market valuations suggest otherwise. Their advertising budgets reflect a very healthy profit margin.
