Prescription drugs in the U.S. are nearly 3 times more expensive than in other developed nations, a new study finds.
The price gap is even greater when looking at brand-name drugs alone… which cost about 4 times more in the U.S., according to researchers.
Their study compared manufacturers’ gross drug prices from 2022 in the U.S. and 33 other countries.
While overall and brand-name prices were significantly higher in the U.S., the news wasn’t all bad for Americans.
The lead author says, "We find that the gap is widening for name-brand drugs, while U.S. prices for generic drugs are now proportionally lower than our earlier analysis found."
Generic drugs were about 33% less expensive in the U.S. on average.
But the researchers point out generics only account for 8% of total drug spending in the U.S. versus 87% for more expensive brand-name products.
