Compared to Other Countries, Americans Pay Much More for Prescription Drugs

News Picture: Compared to Other Countries, Americans Pay Much More for Prescription Drugs

FRIDAY, Jan. 29, 2021 (HealthDay Information)

Us citizens spend nearly a few times far more for prescription drugs than persons in dozens of other countries, a new examine reveals.

Researchers analyzed 2018 facts and identified that prescription drug costs in the United States ordinary two.5 times far more than in 32 other Business for Financial Co-operation and Advancement (OECD) nations.

The expense of brand-title drugs is even far more — an ordinary of 3.four times better — in the United States than in other countries.

Even so, generic drugs are slightly less costly in the United States than in most other nations. In this state, generic drugs account for 84% of drugs bought by quantity but only 12% of drug investing, according to the scientists at the RAND Corp., a nonprofit, nonpartisan exploration firm.

“Brand-title drugs are the key driver of the better prescription drug costs in the U.S.,” reported examine writer Andrew Mulcahy, a senior health and fitness policy researcher at RAND. “We identified regularly large U.S. brand-title costs, irrespective of our methodological decisions.”

For their examine, the scientists employed producer costs for drugs due to a lack of availability of web costs, which are those in the long run paid out for drugs after negotiated rebates and other discounts are used.

But even after adjusting U.S. costs downward based on estimated discounts, U.S. drug costs remained substantially better than those in other countries.

Among other nations, the United Kingdom, France and Italy typically have the cheapest prescription drug costs, even though Canada, Germany and Japan are inclined to have better costs, according to the examine, which is offered on the RAND website and the U.S. Department of Overall health and Human Solutions website.

“Numerous of the most high priced drugs are the biologic solutions that we typically see advertised on television,” Mulcahy reported in a RAND information launch. “The hope is that competition from biosimilars will push down costs and investing for biologics. But biosimilars are offered for only a handful of biologics in the United States.”

Across all the nations in the examine, complete drug investing in 2018 was an estimated $795 billion. The United States accounted for 58% of gross sales, but just 24% of the quantity.

U.S. drug investing surged seventy six% between 2000 and 2017, and is anticipated to increase more rapidly than other areas of health and fitness treatment investing about the next decade as new, high priced specialty drugs are accredited, according to RAND.

More facts

The American Professional medical Association has far more on prescription drug costs.

Source: RAND Corp., information launch, Jan. 28, 2021

Robert Preidt

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