> Wait, so following suit would then lower prices in the US and pass on the costs to the rest of the world? ..Sold!
Yes, which is why basically any American should support drug reimporting[0]. But pharmaceutical companies lobbied heavily against it, so it was taken out of the ACA, and it's been defeated in Congress (albeit by a narrow margin) each time it's come up since then.
[0] Conversely, countries which import drugs from the US (which includes all developed nations) have a very vested interest in not letting pharmaceutical prices in the US drop.
Yes, which is why basically any American should support drug reimporting[0]. But pharmaceutical companies lobbied heavily against it, so it was taken out of the ACA, and it's been defeated in Congress (albeit by a narrow margin) each time it's come up since then.
[0] Conversely, countries which import drugs from the US (which includes all developed nations) have a very vested interest in not letting pharmaceutical prices in the US drop.