Why Does the United States Pay, by Far, the Highest Prices in the World for Prescription Drugs?
That is the topic of a U.S. Senate hearing last week. One person testifying was an economist, USC Professor Darius Lakdawalla. While his full testimony is here, his key points of contention are worth reading. These include: The challenge for public policy is to sustain the pace of medical innovation while ensuring that valuable new…