Why Do Americans Pay More for Prescription Drugs?

In Europe , the price of Revlimid , a brand-name cancer drug, has been consistently lower than in the U.S. David Gergen : In most other wealthy countries, governments set a single price for a drug that is usually based on analysis of the therapeutic benefit of the medicine and what other countries pay.

He says drug companies determine what to charge for their products with few restraints.

Gergen says a bill would penalize pharmaceutical companies that sell their drugs at higher prices.

Some critics also warn so-called international reference pricing can be gamed and allows foreign governments to essentially set the value of medicines sold in the U.S. The Trump administration is expected to announce drug pricing plans as early as next week , according to a report. The White House did not respond to a request for comment..