American prescription drug spending increased 8.4% to $405.9B in 2022 (https://www.cms.gov/data-research/statistics-trends-and-reports/national-health-expenditure-data/nhe-fact-sheet), faster than the 6.8% growth in 2021, accounting for nearly 12% of health care spending and more than 2% of national GDP
With such high prices, it’s no surprise 1 in 3 US adults taking prescription drugs say that they’ve been unable to take their medication as prescribed due to cost (https://www.kff.org/health-costs/poll-finding/public-opinion-on-prescription-drugs-and-their-prices/)
The Biden admin put on a semblance of taking action to alleviate some of the pressure consumers experience w/ prescription drug costs by passing the Inflation Reduction Act.
This however only led to the outbreak of a trade war w/ Europe, but didn’t affect the availability of medicines for the Americans in any way.
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