patrick.net

American Spending on Top 20 Drugs Nearly Doubles the Rest of the World Combined
BY NAVEEN ATHRAPPULLY October 2, 2021

The United States outspent every other country in the world combined when it came to the top-selling 20 pharmaceutical drugs, according to a recent analysis of company financial filings by Public Citizen.

Americans spent a total of $101.1 billion, while the rest of the world spent $56.8 billion, on the top 20 drugs. The key findings of the analysis report (pdf) indicate that U.S. consumers overpay for drugs, and do not necessarily intake more than people from other countries.

The best-selling 20 drugs brought $157.8 billion in total global revenue for pharma companies with the U.S. accounting for 64 percent of the revenue pie. The sizable disparity makes the U.S. market essentially a cash cow for Big Pharma, which is fighting efforts to decrease the spending.

“Deceptive TV ads paid for by Big Pharma try to frighten and mislead Americans about new legislative efforts that would empower Medicare to negotiate drug prices,” said the report.