How to lower prescription drug prices without government intervention

Prescription drug prices have skyrocketed and the immense harm to families and businesses is leading some public officials to propose outrageous “solutions.” For example, U.S. Senator Elizabeth Warren, now a 2020 presidential candidate, suggests the federal government get into the business of manufacturing medications. And that begs one to ask, how’s that going for Venezuela where the government controls all aspects of business?

Extreme interference in the private sector isn’t right for Utah. Fortunately, our state legislators are considering their own ambitious, market-based measures to bring down prescription drug prices and if the legislation passes, Utah will become the leader in solving this urgent problem.

The secret ingredient to the plan is open and honest drug pricing. The pharmaceutical market isn’t working because costs are largely hidden, and government-granted monopolistic powers are abused. That means physicians and patients can’t make independent, informed decisions about prescription medicines.

Source: Deseret News

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