A congressional hearing followed a pattern that has become all too familiar. A drug price soars for no reason; lawmakers call a hearing, scold a pharmaceutical executive, who pleads innocence and provides little information, with no effect on price. The price of brand-name prescription drugs jumped 164% from 2008 to 2015, says ExpressScripts. Most developed countries negotiate prices with drug makers, but Congress has prohibited Medicare from doing that; allowing Medicare to negotiate prices would set a benchmark for the entire health system. Lawmakers grant drug companies long patent monopolies on their products, making it hard for generic drug companies to offer cheaper versions of brand-name medicines. To have a real impact on drug prices, Congress will need to do a lot more than browbeat pharmaceutical executives in the hopes of shaming them into reducing their prices.
At www.nytimes.com
