Los Angeles Times: Yes, we can lower sky-high drug prices — other countries have done it

By: David Lazarus

Scott Gottlieb, head of the Food and Drug Administration, wasted no time in his opening remarks at a forum last week on high drug prices.

“The fact is that too many people can’t afford the medicines that they need,” he declared.

On that, I hope, we can all agree.

The trouble is doing something about it.

In all other developed countries, patients are protected by government authorities overseeing the market for prescription meds, ensuring that prices are reasonable while still allowing drug companies a fair profit.

In the United States, profit comes before public interest. There are no limits to how much can be charged for a prescription drug, particularly specialty drugs intended for the costliest illnesses.

Read More…