International Prescription Drug Price Comparisons
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U.S. New Research Shows U.S. Prescription Drug Prices Exceed Other Nations | Web version
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Congressional alert
January 28, 2021
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George Frey/Reuters
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Congress has been examining ways to combat rising prescription drug prices. According to a new report, prices for all prescription drugs in the United States were 2.56 times of those seen in 32 different Organisation for Economic Co-operation and Development (OECD) nations.
U.S. prices for brand-name drugs were even higher at 344 percent of prices in other nations. The study also found that prices for generic drugs—which account for 85 percent of drugs sold in the U.S. by volume, but only 15 percent of U.S. spending—are slightly lower in the United States compared to other countries. Overall, lower prices for generics did not offset the much higher brand-name prices.
Researchers compiled estimates by examining industry-standard data on drug sales and volume for 2018, comparing the U.S. to 32 nations that belong to the OECD. The data include most prescription drugs sold in the U.S. and comparison countries.
Read the report »
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For questions or to discuss this research, please contact Jared Perkins. |
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