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(TNSJou) -- Rand issued the following news release:
Linking the cost of prescription drugs in the United States to the prices paid in other high-income nations could have reduced American spending for the drugs by at least half in 2020, according to a new RAND Corporation study.
Modeling a proposal that would cap U.S. prices at 120% of what is paid in six other nations, researchers found that such a move would have cut U.S. spending on insulins and 50 top brand-name drugs by 52% during 2020--a savings of $83.5 billion. These savings are on top of already-lower U.S. "net" prices after rebates negotiated between drug companies and insurers.
The findings are published in the latest edition of the Journal of the American Medical Association.
"International reference pricing could yield considerable savings in the United States," said Andrew...