Why Is It So Hard to Lower Drug Prices?

The video discusses the complexities of prescription drug pricing, highlighting the role of competition in lowering prices for generic drugs while examining the challenges faced by high-priced drugs like Humira and Daraprim. It explores the FDA's efforts to increase generic competition and the barriers that persist in the market. The video also delves into the intricacies of market exclusivity, particularly for biologics, and considers various proposals to address drug pricing, including linking prices to international rates and automatic price reductions post-exclusivity. The discussion concludes with the challenges of balancing innovation and affordability.

What are some proposed solutions to lower drug prices mentioned in the text?

How do biologics differ from small molecule drugs in terms of market exclusivity?

What challenges do pharmaceutical companies face in developing new antibiotics?