And the approval rate is less than 12%.
The crazy pricing is to compensate for the failed projects.
Also, it's not like you can bootstrap yourself or grow organically like Startups.
You have to wait for like 10 - 15 years. To actually start selling it.
[1]: https://www.google.com/amp/s/www.policymed.com/amp/2014/12/a...
So if they have a effectively built monopoly, chopping down the maximum they can charge via regulation would seem sensible wouldn’t it?
There's several factors that impact US drug prices. For instance FDA approvals are significantly more costly than EMA ones and the bargaining power of healthcare providers is worse compared to a single payer system
I have no knowledge of US laws, but I wouldn't be surprised if there's some kind of law preventing government interference with "the free market"
(It’s almost the opposite, in fact, where our courts have expanded the Commerce Clause over time to allow the federal government the ability to regulate close to any economic activity.)