A report from the House Ways & Means Committee suggests that U.S. patients pay, on average, about four times more for some drugs than 11 similarly-developed countries.
The report, “A Painful Pill to Swallow: U.S. vs. International Prescription Drug Prices,” was released Sept. 23, and compared prices in The U.K., Japan, Ontario, Australia, Portugal, France, the Netherlands, Germany, Denmark, Sweden and Switzerland.
According to the report, the U.S. in 2016 spent a whopping $457 billion on prescription drugs, with drug spending between 2011 and 2016 posting 27 percent spending growth.
“We found that individual drug prices in the U.S. ranged from 70 to 4,833 percent higher than the combined mean price in the other 11 countries. On average, U.S. drug prices were 3.7 times higher than the combined average of the other 11 countries in the study,” the report states.
To read the report, click here.