There was a time when America approximated other wealthy countries in drug spending. But in the late 1990s, U.S. spending took off. It tripled between 1997 and 2007, according to a study in Health Affairs. Then a slowdown lasted until about 2013, before spending shot up again. What explains these trends? Prices are a lot higher for brand-name drugs in the United States because we lack the widespread policies to limit drug prices that many other countries have. (Austin Frakt, New York Times)
