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From: Paul H. Christiansen	8/24/2016 1:30:33 AM
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The Real Reason Drugs Cost Too Much Hillary Clinton, Donald Trump and three-fourths of their fellow Americans say prescription drugs cost too much. They're right, and the two candidates even agree on a couple of good strategies to try to keep prices down: Allow Medicare to negotiate on behalf of its 40 million beneficiaries, and let Americans buy drugs from countries where quality is well monitored. Yet neither of these strategies addresses head-on the No. 1 reason that drug spending is rising so much. The main culprit, according to research from Brigham and Women's Hospital in Boston, is that the government grants extraordinarily long periods of market exclusivity for new drugs. The Food and Drug Administration and the U.S. Patent Office together give new drugs monopoly rights that last anywhere from eight and a half to 15-plus years. This helps explain why brand-name drugs account for 72 percent of drug spending in the U.S. even though they represent only 10 percent of prescriptions. Since 2008, prices for the most commonly used branded drugs have risen 164 percent -- far faster than other medical costs. The U.S. spends more than twice what other industrialized countries spend on drugs. bloomberg.com

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