"We can no longer sustain a system where 300 million Americans subsidize drug development for the entire world," said Steve Miller, chief medical officer for Express Scripts Holding Co., the largest U.S. manager of prescription-drug benefits.
The drug industry sees it differently.
"The entire health-care system in the United States is more expensive than other countries," said Robert Zirkelbach, a spokesman for the Pharmaceutical Research and Manufacturers of America trade group. "The difference in prices here in the U.S. compared to other countries is often vastly overstated," because comparisons don’t include all the discounts drugmakers give to various payers.
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Although drug companies insist they need to charge high prices in order to fund R&D, critics point to exorbitant profits and executive pay at pharmaceutical companies as proof that drugs are simply overpriced and that the claim of needing to fund R&D is merely a front