The Wall St Journal floated a trial balloon today. The plan would have Uncle Sam calculate a "fair" price for drugs, based on overseas drug prices, and then tell Medicare, Medicaid, and the rest of 'em to only pay the drug companies the computed fair price.
The price of American made drugs sold overseas is a lot lower, like half the price, of the same drug sold in the US. This happens because the US health agencies are forbidden to bargain over drug prices. Overseas the health agencies do bargain over prices and generally get a price one half the US price, or better.
I have a better fix for the problem. America passes a law permitting duty free drug imports from all reasonable first world countries (Canada, Britain, the EU, Japan, maybe a few more). This is a free market fix, no bureau crats computing prices, Health agencies just go out for bids and buy from the lowest bidder. No flimflam over "list" prices, discount prices, special prices, what ever. Lowest bidder gets the sale.
This would have to be a federal government fix, the state of New Hampshire doesn't get to set US import duties. Peaking as a candidate for the NH legislature I won't have much to say about this issue, other than to root for it, should I be elected.
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