Journal Article

Medicine Markup: Americans pay a lot for prescription drugs. Does that mean we pay too much?

Abstract: Diabetics rationing their insulin because they can't afford the full dose. Senior citizens choosing between filling their prescriptions and buying groceries. Parents hoping an expired EpiPen will still work if their child has an allergic reaction. {{p}} Stories about Americans unable to pay the high cost of prescription drugs are not new. But in recent years, drug prices have drawn increased attention from policymakers on both sides of the aisle, prompted by the advent of expensive new treatments for Hepatitis C, cancer, and other illnesses, as well as steep price increases for existing treatments such as EpiPens and insulin. Prices look especially high when compared to those in many other developed countries, particularly in Europe.

Keywords: prescription drugs; costs; price regulation;

Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Econ Focus

Publication Date: 2017

Issue: 4Q

Pages: 10-14