Expand chart
Reproduced from the Ways and Means Committee; Table: Axios Visuals

Americans would save a boatload if we paid the same prices as other wealthy countries pay for prescription drugs, a new analysis from the House Ways & Means Committee confirms.

Why it matters: This is why the industry is so staunchly opposed to both President Trump's and House Speaker Nancy Pelosi's plans to piggyback off of other countries' lower prices.

Where it stands: Most countries included in the analysis have average drug prices that are between 24% and 30% of U.S. prices. Government regulations keep drug prices lower in these countries.

  • Those U.S. prices don't take into account rebates and discounts, which bring down the price most insured patients actually pay.
  • The average rebate in Medicare Part D is about 22%, according to a 2015 estimate from the Congressional Budget Office. Those rebates would have to be significantly bigger to match other countries' prices.

The other side "International comparisons link list prices in the United States — that almost nobody pays — to these artificially low prices set by governments in other countries," PhRMA spokesperson Holly Campbell said.

  • "In every country where the government sets medicine prices, patients face significant restrictions in accessing new medicines and long treatment delays," she added.

Yes, but: Many patients with high deductibles or no insurance at all pay the list price for their prescriptions, leading to unfilled prescriptions and other medication adherence issues.

Go deeper

Louisville officer: "Breonna Taylor would be alive" if we had served no-knock warrant

Breonna Taylor memorial in Louisville. Photo: Brandon Bell/Getty Images

Sgt. Jonathan Mattingly, the Louisville officer who led the botched police raid that caused the death of Breonna Taylor, said the No. 1 thing he wishes he had done differently is either served a "no-knock" warrant or given five to 10 seconds before entering the apartment: "Breonna Taylor would be alive, 100 percent."

Driving the news: Mattingly, who spoke to ABC News and Louisville's Courier Journal for his public interview, was shot in the leg in the initial moments of the March 13 raid. Mattingly did not face any charges after Kentucky Attorney General Daniel Cameron said he and another officer were "justified" in returning fire to protect themselves against Taylor's boyfriend.

U.S. vs. Google — the siege begins

Illustration: Sarah Grillo/Axios

The Justice Department fired the starter pistol on what's likely to be a years-long legal siege of Big Tech by the U.S. government when it filed a major antitrust suit Tuesday against Google.

The big picture: Once a generation, it seems, federal regulators decide to take on a dominant tech company. Two decades ago, Microsoft was the target; two decades before that, IBM.

Dion Rabouin, author of Markets
51 mins ago - Economy & Business

Why the stimulus delay isn't a crisis (yet)

Illustration: Aïda Amer/Axios

If the impasse between House Speaker Nancy Pelosi and the White House on a new stimulus deal is supposed to be a crisis, you wouldn't know it from the stock market, where prices continue to rise.

  • That's been in no small part because U.S. economic data has held up remarkably well in recent months thanks to the $2 trillion CARES Act and Americans' unusual ability to save during the crisis.