I think that's difficult to implement. There's a risk that companies might end up not launching new products on the US market
There's several factors that impact US drug prices. For instance FDA approvals are significantly more costly than EMA ones and the bargaining power of healthcare providers is worse compared to a single payer system
I have no knowledge of US laws, but I wouldn't be surprised if there's some kind of law preventing government interference with "the free market"
No such law here in the states, just a political atmosphere where some people adore the idea of socialism and others see it as the coming of the end of times. Combine that with a highly complex industry structure that’s been entrenched for decades, and you end up in a situation where it’s near impossible to pass laws that actually structurally change our system.
(It’s almost the opposite, in fact, where our courts have expanded the Commerce Clause over time to allow the federal government the ability to regulate close to any economic activity.)
there is also a lot of problems with pharma not wanting to invest in cures for smaller diseases because the payback seems unlikely to happen or not be great enough to warrant the risk, so this seems like a pretty good vote getting maneuver that might have unintended consequences.
And the approval rate is less than 12%.
The crazy pricing is to compensate for the failed projects.
Also, it's not like you can bootstrap yourself or grow organically like Startups.
You have to wait for like 10 - 15 years. To actually start selling it.
[1]: https://www.google.com/amp/s/www.policymed.com/amp/2014/12/a...