Although a variety of studies claim that U.S. prices range upwards of one-third to double those in Britain, Canada, and Mexico, Patricia Danzon of the Wharton School found these analyses to be flawed, typically ignoring the role of generics and volume discounts in America. Of course, some elderly and poor are still hurting from high drug prices, though two-thirds of seniors are covered through Medicaid or private policies. One response would be to make Medicare more flexible, providing a voucher to recipients to purchase the private plan, which could include pharmaceutical benefits, that best met their needs. Or government could assist poor seniors in paying catastrophic drug expenses. In any case, legislators should reject any proposal that would expand government regulation over industry prices and practices.
Pharmaceuticals are lifesavers.
Election-minded politicians see electoral rewards in demonizing the drug companies. But the pharmaceutical industry is doing infinitely more than Congress to improve people's health. U.S. drug makers are successful because they are free. Washington should leave them alone.