Political Analysis about how to lower Drug Prices

How to Lower Drug Prices

Drugs in the United States cost significantly more than in other wealthy nations, including Canada and those in Europe. This costs taxpayers, the government, and patients significantly more and also hurts hospitals.

As of 22 United States Generics were 67% of generics in other wealthy countries. However, as of 2022, Americans pay 322% of the price for drugs compared to other wealthy nations. However, only ¼ of diseases that occur in humans have a drug assigned to them. For example, Spiriva Respimat inhalers cost 120$ for a single dose in the United States, while other countries pay less than $ 1. Other drugs: Januvia, Bystolic, and Renvela, on average, cost three times more in the United States than in other countries. Xarelto costs over 5 times more in the United States than in Canada. However, drug prices have dropped 6.6% so far this year; they need to drop further.

The Solution would be to limit drugs in America to 40% more expensive than the average wealthy nations' price and hopefully aim for drugs in America to be cheaper than in other countries. Solving this problem will help lower the national deficit, put more money in Americans' pockets, and help hospitals stay open. For these drugs, limiting the maximum price to be 20% more expensive than the price in Canada is important to help solve this problem. In addition, we still need to allow for America being the leader in new drug development; however, the current exceedingly high prices are hurting Americans significantly. It will help lower the American deficit, which is currently at 2 trillion, which is a disaster. The government should negotiate for Medicare and Medicare for all patients.

Works Cited

“Drug Prices Have Declined Sharply, and Trump Is Taking Credit. The Reason Behind the Drop Is Complex.” The Washington Post, 18 Aug. 2026. https://www.washingtonpost.com/business/2026/08/18/prescription-drug-prices-trump-mfn-cpi/ca2cf24a-9af2-11f1-9cc4-2dc9b46e2d5c_story.html.

“HHSS’s Chris Klomp on Reshaping American Healthcare.” The Wall Street Journal, https://www.wsj.com/video/hhss-chris-klomp-on-reshaping-american-healthcare/AF7EB808-A49D-4423-9B04-17BE4FD8E1D2.

“Solutions to Medicare Part D’s Rising Costs.” The Wall Street Journal, https://www.wsj.com/opinion/solutions-to-medicare-part-ds-rising-costs-d67201ba.

“Trump Administration Finalizes Plan to Lower Drug Prices in Medicare.” The Wall Street Journal, https://www.wsj.com/health/pharma/trump-administration-finalizes-plan-to-lower-drug-prices-in-medicare-5bf6227f.

“[Article on Trump’s Drug Prices and Medicaid].” The New York Times, 18 Sept. 2026, https://www.nytimes.com/2026/09/18/business/trump-drug-prices-medicaid.html.

“[Article on Trump, Drug Prices, Affordability, and the Midterm Elections].” The New York Times, 16 Oct. 2026, https://www.nytimes.com/2026/10/16/business/midterms-election-trump-drug-prices-affordability.html.

“Prescription Drug Prices Record Sharpest Drop in More Than 60 Years.” The Washington Post, 13 Aug. 2026, https://www.washingtonpost.com/business/2026/08/13/prescription-drug-prices-record-sharpest-drop-more-than-60-years/

“Comparing Prescription Drugs in the U.S. and Other Countries: Prices and Availability.” NCBI Bookshelf, Office of the Assistant Secretary for Planning and Evaluation, 31 Jan. 2024, https://www.ncbi.nlm.nih.gov/books/NBK611301/. Accessed 22 Oct. 2026.

Gaudiaut, Tristan. “The Price of Health: Americans Pay a Hefty Bill for Drugs.” Statista, 9 Jan. 2026, https://www.statista.com/chart/35649/drug-price-disparities-in-united-states-and-abroad/. Accessed 22 Oct. 2026.