Coupons and Other Marketing Schemes Obscure the Retail Prices of Drugs in the U.S., Which Are Vastly Higher than Prices Paid in Other Nations

Among all the world’s nations, the U.S. is in a unique and painfully costly conundrum regarding the retail prices paid for drugs. American universities and corporations discover, test and produce a vast supply of innovative drugs each year. However, while U.S. taxpayers and patients support much of this vital research (through R&D tax credits, cash donations to encourage research and hundreds of billions of dollars in yearly drug purchases), much of the financial benefit (in terms of extremely low drug prices) is passed along to patients everywhere in the world outside of America. Meanwhile patients and payers in the U.S. bear astonishingly high prices, often 10-times the price paid in other nations.

Historically, the U.S. government has not been active in regulating drug prices. This is in sharp contrast to the rest of the world, as most other highly developed nations very tightly control drug prices. Another major difference, however, is that America operates a massive private health insurance industry (typically sponsored by employers), as well providing federal government-sponsored health coverage for certain parts of the population, including Medicare for people aged 65+ and Medicaid for people who meet certain low-income criteria.

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Coupons and Other Marketing Schemes Obscure the Retail Prices of Drugs in the U.S., Which Are Vastly Higher than Prices Paid in Other Nations, Business and Industry Trends Analysis

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