Tuesday, September 14, 2021

Linking US prescription drug prices to those paid in other nations could cut costs in half




 News Release 10-Sep-2021
RAND Corporation


Linking the cost of prescription drugs in the United States to the prices paid in other high-income nations could have reduced American spending for the drugs by at least half in 2020, according to a new RAND Corporation study.


Modeling a proposal that would cap U.S. prices at 120% of what is paid in six other nations, researchers found that such a move would have cut U.S. spending on insulins and 50 top brand-name drugs by 52% during 2020 – a savings of $83.5 billion. These savings are on top of already-lower U.S. “net” prices after rebates negotiated between drug companies and insurers. 



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