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Puzzled by drug prices

Prostate Cancer | Last Active: Aug 27 4:05pm | Replies (23)

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@jeffmarc

We pay more in the United States than any other country in the world for almost every drug. It’s because our Congress has made it very difficult for any company and Medicare to negotiate pricing. They finally passed a bill to allow Medicare to negotiate prices. This reduced the Price of 10 drugs down considerably and more will be done in the next few years. they also capped insulin at $35 a month when some companies were charging $400.

If you’re on Medicare, you pay a maximum of $8000. Once that is paid you pay no more for the year. That $8000 isn’t just based on what you pay it’s also is based on what your provider pays. In my case paying $2,300 for Darolutamide in January resulted in my paying zero dollars for drugs for the rest of the year. That’s because Darolutamide is $13,000 so the $8000 limit was reached immediately. My Orgovyx which cost $3000 was free for the rest of the year.

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Replies to "We pay more in the United States than any other country in the world for almost..."

Forgot to mention that next year, the Medicare cap will be $2000. After that, you pay nothing.

Here in Belgium the retail price is 170Euro (190USD) for Orgovyx but free for everyone (insurance is universal). I think these prices are negotiated at the European level so they have a bit of leverage.

The drug companies do need to recoup their investment though (including for any failed drugs along the way) so it looks like the US market is covering a lot of this cost and other markets get the lower rates (which is not fair I know).

On the other hand we don't have drugs available until later than the US: Orgovyx was only available in Nov 2023 in Belgium.

So if you need lifesaving drugs and can pay or have good insurance, the US model has positive points.