Getting to lower prescription drug prices: the key drivers of costs and what policymakers can do to address them
- Collection:
- Health Policy and Services Research
- Author(s):
- Waxman, Henry A., author Corr, Bill, author Sharp, Jeremy, author McDonald, Ruth, author Kenyatta, Kahaari, author
- Contributor(s):
- Arnold Ventures, issuing body. Commonwealth Fund, issuing body.
- Publication:
- [New York, New York] : The Commonwealth Fund, October 2020
- Language(s):
- English
- Format:
- Text
- Subject(s):
- Drug Costs Prescription Drugs -- economics Cost Control Health Policy United States
- Genre(s):
- Technical Report
- Abstract:
- ISSUE. Unsustainably high prescription drug prices are a concern for patients, employers, states, and the federal government. There is widespread public support for addressing the problem, and enacting policies to lower drug prices has been a top concern for Congress and the administration over the past three years. Despite this attention, structural changes have not been enacted to rein in drug prices. GOAL. To document the drivers of high U.S. prescription drug prices and offer a broad range of feasible federal policy actions. METHODS. Interviews with experts and organizations engaged on policies related to prescription drug pricing. Review of policy documents, white papers, journal articles, proposals, and position statements. KEY FINDINGS. Action in five areas is key to increasing access to and affordability of medications for Americans: 1) allow the federal government to become a more responsible purchaser; 2) stop patent abuses and anticompetitive practices that block price competition; 3) build a sustainable biosimilar market to create price competition; 4) fix incentives in the drug supply chain and make the supply chain more transparent; and 5) ensure public accountability in the government-funded drug development process. Congress and regulators have a wide range of tools at their disposal to address high drug prices and spending.
- Copyright:
- Reproduced with permission of the copyright holder. Further use of the material is subject to CC BY license. (More information)
- Extent:
- 1 online resource (1 PDF file (45 pages))
- Illustrations:
- Illustrations
- NLM Unique ID:
- 101773115 (See catalog record)
- Permanent Link:
- http://resource.nlm.nih.gov/101773115