Topline
According to Public Citizen's report, Americans spent more money on top 20 medications than all other countries combined. This is a clear indication of America's rising healthcare costs as politicians struggle to control them.
The top 20 most-prescribed drugs cost Americans more than all of the rest of the globe combined. getty
The Key Facts
According to Public Citizens analysis, 17 of the top-20 most-sold drugs worldwide in 2020 saw pharmaceutical companies make more revenue from U.S. sales revenues than any other country. The U.S. had doubled the sales revenue from 11 of the top-20 drugs combined, while some drugs saw even greater disparities. Gilead, a pharma company, made $6.1 billion selling HIV drug Biktarvy in America, five times more than the $1 billion it made in the rest of the world. AbbVies Humira was an autoimmune drug. Sales revenue in the U.S. was four times higher ($16 billion) than it was for the rest ($4 billion). American sales revenues for Eli Lilys diabetes drug Trulicity ($3.8billion), Amgen and Pfizers autoimmune disease drug Enbrel ($4.9billion) and Roches multiple Sclerosis drug Ocrevus ($3.8billion) were three times the rest (respectively $1.2billion, $1.5billion and $1 billion).
Big Number
$158 billion This is how much revenue the top 20 drugs brought in. Nearly two-thirds of the total was made up by U.S. sales, which accounted for $101 billion.
Important Background
The U.S. doesn't buy or use more drugs that the rest of the globe. Research shows that its consumption is on par with other rich countries. It simply pays more for what it uses. This is consistent with the overall healthcare spending, which is much higher than similar countries but achieves far less. The government's inability or refusal to negotiate lower prices is a key reason for sky-high prices. Despite bipartisan agreement about the need for lower prescription drug prices. All efforts to achieve this resulted in failure.
Continue reading
The fight to produce COVID vaccines for lower-income countries (Nature).
The Financial Times explains why prescription drugs are more expensive in America (Financial Times).
