STEPHEN MOORE: Foreign drug price controls are a hidden tax on Americans

The United States spends far more on healthcare, on a per capita basis, than any other country in the world. There are many reasons why, including health insurance companies. But one reason has been largely overlooked: foreign governments maintain pricing systems that limit what they pay for drugs. The difference has been absorbed in the United States, with the result that Americans cover a disproportionate share of the world’s drug costs.

These pharmaceutical pricing systems need to be called out for what they are: trade distortions.