Americans pay significantly higher prices for prescription drugs compared to other high-income industrialized countries, sometimes two to four times as much. President Biden’s claim that prescriptions can be filled for 40% to 60% less in other countries is mostly accurate for comparable nations. Factors like country-specific pricing, rebates, and discounts can make price comparisons challenging. While the U.S. pays less for unbranded generic drugs, the prices for brand-name drugs remain high. The U.S. lacks comprehensive price negotiation mechanisms used by other countries, leading to higher drug costs. Biden’s statement is mostly true but needs clarification and context.
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Biden Is Right. The US Generally Pays Double That of Other Countries for Rx Drugs.
