ASPE contracted with RAND Health Care to carry out three studies analyzing data on U.S. prescription drug prices and availability in comparison to drug prices and availability in other Organisation for Economic Co-operation and Development (OECD) countries. In 2022, U.S. prices across all drugs (brands and generics) were nearly 2.78 times as high as prices in the comparison countries. U.S. prices for brand drugs were at least 3.22 times as high as prices in the comparison countries, even after adjustments for estimated U.S. rebates. Most new drugs were available first in the U.S. before being launched in other countries. The U.S. spends a higher and growing share of total drug spending on new drugs compared to other countries.
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- Andrew W. Mulcahy, Christopher Whaley, Mahlet G. Tebeka, Daniel Schwam, Nathaniel Edenfield, and Alejandro U. Becerra-Ornelas, “International Prescription Drug Price Comparisons: Current Empirical Estimates and Comparisons with Previous Studies,” July 1, 2022.
- Andrew W. Mulcahy, Daniel Schwam, and Nate Edenfield, “Comparing Insulin Prices in the U.S. to Other Countries,” September 23, 2020.