With drug prices being the largest driver of healthcare costs, a Reuters analysis found that the prices of 10 drugs included in Medicare’s negotiation program under the Inflation Reduction Act are still more than twofold higher, on average, and in some instances fivefold higher, than the costs of the same drugs in four wealthy countries: Australia, Canada, Japan and Sweden. For example, Medicare will spend $17,581 for a 30-day supply of nine of the 10 drugs in the US in 2026, compared with $6,725 in Sweden this year.
US drug prices still much higher despite negotiations
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