Blog Contribution by AARP
Prescription drug prices in America are among the highest in the world. On the campaign trail, President Trump said drug companies were “getting away with murder.” Is that true? Or are these firms the beneficiaries of a system that turns a blind eye to excessive profit-making at the expense of society?
“The simple answer is because there’s nothing stopping them,” says Leigh Purvis, director of health services research for the AARP Public Policy Institute.
Other countries drive a much harder bargain with drug companies. In contrast, the U.S. allows drug companies to pretty much set their own prices.
And as we all know, when demand is high for a product, companies often raise prices. That’s exactly the...