In a recent campaign stop in California, President Joe Biden said that people in other countries are paying 40-60% less than what Americans are paying for prescription drugs. A fact-checker recently approved his claim, affirming that Americans are indeed paying double for prescription drugs compared to prices in other countries.

“If I put you on Air Force One with me, and you have a prescription—no matter what it’s for, minor or major—and I flew you to Toronto or flew to London or flew you to Brazil or flew you anywhere in the world, I can get you that prescription filled for somewhere between 40 to 60% less than it costs here,” Biden said at a Feb. 22 campaign reception in Los Altos, California, where he was joined by Vice President Kamala Harris.

WLRN, which can be found on 91.3 FM in Florida, partnered with PolitiFact to fact-check politicians and the claims that they make while on the campaign trail. Biden’s comments last month were ranked “mostly true” by fact-checkers, reports WUWF, and NPR member station.

Biden then cited provisions in the 2022 Inflation Reduction Act to lower prescription drug prices, including capping insulin at $35 per month for Medicare enrollees. Lawmakers also put a limit on older Americans’ out-of-pocket prescription costs to $2,000 per year starting in 2025. 

The law also authorizes Medicare to negotiate prices directly with drug makers for 10 prescription drugs, and the list is expected to grow.

There’s a growing body of evidence to suggest that overall, U.S. prescription drug prices are significantly higher, sometimes two to four times, compared with prices in other industrialized nations. Generic drugs, however, are an anomaly and are typically cheaper in the U.S. compared with other countries. 

A recent study by Rand found that across all drugs, U.S. prices were 2.78 times higher than prices in 33 other countries, based on 2022 data. The divide was largest for brand-name drugs, with U.S. prices averaging 4.22 times higher than those in the other nations. After adjusting for manufacturer-funded rebates, U.S. prices for brand-name drugs remained more than three times higher than prices in other countries. 

“The analysis used manufacturer gross prices for drugs because net prices—the amounts ultimately retained by manufacturers after negotiated rebates and other discounts are applied—are not systematically available,” a press release about the report said.

A series of other studies show that in the U.S., people are paying more than any other peer countries for brand-name drugs, and it’s not offset enough by generic drug prices.

Drug patents and exclusivity are other factors keeping U.S. drug prices higher than in other countries.

Other Politicians Agree Prescription Drug Costs Are Too High

Last February, Sen. Bernie Sanders (I-Vermont) issued a report slamming the U.S. prices of drugs and executive pay of three major drug manufacturers—Johnson & Johnson (J&J), Merck, and Bristol Myers Squibb—just before a hearing.

The CEOs of all three drug manufacturers had to appear before a hearing to be grilled by Sanders, prepared by staff associated with the U.S. Senate Committee on Health, Education, Labor, and Pensions (HELP Committee). The New York Times reports that they testified on their behalf Feb. 8, telling their side of the story.

Americans pay the most for life-saving drugs compared to other countries, the senator’s report summarized—by far. In some cases, Americans are paying nearly 10 times the price as what Germans pay. Sanders’ detailed report outlines how the three companies are spending more on executive pay and stock buybacks than drug research and development (R&D).

“The United States pays, by far, the highest prices in the world for prescription drugs,” the report reads, written by staff and headed by Sanders as Chair. “At a time when one out of four Americans cannot afford the medicine their doctors prescribe, ten large pharmaceutical companies made over $112 billion in profits in 2022 while paying their chief executives exorbitant compensation packages and spending billions of dollars on stock buybacks and dividends to make their wealthy stockholders even richer.”

Sens. Maggie Hassan (D-NH) and Bob Menendez (D-N.J.) voted last July to advance a bipartisan bill she personally helped develop to reduce the rocketing cost of prescription drugs and the way pharmacy managers benefit from rising drug prices. 

The Modernizing and Ensuring PBM Accountability (MEPA) Act, which passed the Finance Committee July 26 on a bipartisan basis, reduces the cost incentive for pharmacy benefit managers (PBMs) to prioritize more expensive drugs because they receive higher payouts for higher priced drugs.

The MEPA Act would scale back incentives to jack up prescription drug prices at pharmacies. The legislation shows that lawmakers understand change is needed regarding sky-high drug prices.

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A majority of cannabis flower products purchased at licensed retail pot shops in Colorado contained less THC than indicated on the label, according to a study performed by a researcher at the University of Colorado Boulder. The study showed that THC levels indicated on the label of approximately 70% of products tested were at least 15% higher than those reported by a third-party lab after purchase.

The research was conducted by Anna Schwabe, an associate lecture professor of modern cannabis science at the University of Colorado Boulder. To complete the study, Scwabe collected 23 cannabis flower samples from 10 licensed dispensaries located across the northern Colorado Front Range, which includes the cities of Denver, Fort Collins and Garden City. 

The samples represented 12 different cannabis strains including sativas, indicas and hybrids, with different THC potency levels reported on the product packaging. Some THC potency levels were reported as a range from 12.8%-19.3% on the lower end and 28.07%-31.28% on the higher limit, while others were reported as a single value such as 16.4% or 17.4%.

After the samples were collected, they were sent to an independent laboratory for analysis using high-performance liquid chromatography (HPLC), which separates, identifies and quantifies the different chemical compounds contained in a mixture. HPLC is the most commonly used method in cannabis testing to determine cannabis potency and detect contaminants, making it an important tool to ensure consumers that products have been tested for safety, purity and potency.

A comparison of lab testing results revealed that approximately 70% of the samples had reported THC levels that were at least 15% higher than the levels determined by the independent laboratory.

“Among the 23 flower samples analyzed, 18 displayed lower THC levels than reported – with 16 falling below 15% of the stated value, 13 falling below 30% of the reported THC and three samples falling below half of the reported THC,” Schwabe wrote in a report about the research published by nonprofit news source The Conversation

Four of the samples were within the range indicated on the label, while only one product contained more THC than the potency level reported on the packaging. 

Schwabe noted that the lower THC values determined through independent lab testing were not due to degradation, adding that THC can degrade to the cannabinoid CBN (cannabinol) over time. However, CBN was not detected in measurable amounts in the samples, and additional testing showed that THC levels were stable over time.

The research also revealed a significant increase in cannabis potency over the last 15 years, a period that includes the 2014 legalization of recreational cannabis in Colorado.

“THC levels averaged 9.75% back in 2009, based on testing of DEA-seized cannabis flower. Today, levels reportedly surpass 35%, though they’re not as common as consumers have been led to believe,” Schwabe wrote in her report. “DEA-seized cannabis flower averaged 13.88% in 2019, which is closer to my observed mean of 14.98% than the reported mean of my samples, which was 20.27%-24.10%.”

The research did not determine who is responsible for the misinformation found in reported cannabis potency levels. Cannabis cultivators or dispensaries could be selecting the best flowers to submit for laboratory testing. Although regulations require tests to be performed on a random sample of a batch of cannabis flowers, oversight to enforce the guidelines is lacking.

The inaccuracy in cannabis potency labeling could also be the result of fraud. Cannabis testing labs could be manipulating the testing process or doctoring the numbers indicated on certificates of analysis to ensure repeat business or gain new clients, the author of the study noted.

Schwabe noted that accurate lab testing of cannabis potency is important for medical marijuana patients who may want to carefully control their dose of THC. Proper potency testing is also significant for consumers who purchase recreational weed because companies can charge higher prices for cannabis with high levels of THC.

Schwabe, who is also a board member for the nonprofit Agricultural Genomics Foundation, said that the cannabis industry should focus on educating “consumers on how to make more informed choices by looking beyond mere THC percentages.” 

“People generally do not shop for wine or beer based on alcohol content,” the researcher wrote. “Instead of focusing on THC content, a novice cannabis consumer might consider brands that are reputable or strains that have an aroma or flavor profile they enjoy. Eventually, they may move on to find a favorite breeder or grower, or a trusted dispensary that employs a knowledgeable budtender.”

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Feeling broke? Get creative. Leafly’s experts share their best pro tips for making every ounce go further.

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Construction costs are crazy—and that could mean fewer stores and higher prices for cannabis consumers.

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