(CNN Business)It’s an experience millions of Americans have had: you go to the doctor, get a prescription, take it to the pharmacy and get hit with a staggering bill, sometimes running into hundreds of dollars even if insurance covers a part of the cost.
“In the US, we’re unique in letting drug companies basically set their own prices,” Andrew Mulcahy, a senior policy researcher at the RAND Corporation who focuses on prescription drugs, told CNN Business. Americans spend around $1,200 a year on average for prescription drugs — more than any other country — according to the latest available OECD data.
