"Big Pharma," is private industry and free enterprise. That is what America is all about. That's why these drugs are developed here. Most EU countries have laws preventing drug companies from recouping development costs from consumers. Thank your friends in Europe for passing these costs on to you.
Canada does not allow its citizens to sue Drug Companies. Malpractice insurance and the costs of ambulance chasing law firms suing everything that moves add to the costs of medications to all of us. Hold people responsible for the harm done by their products, if they knew about them and did not tell us. But, after the FDA and other serious scientists have examined everything that they could and concluded that the benefit of a drug outweighs known risks, it is safe to conclude that the companies are not out to do us harm.
The US, like most countries, recognizes exclusive patent rights of seven years for new drugs. In the US, the seven years start with the application and before clinical trials (which can take years).
That means US companies have fewer years to recoup the costs of developing better drugs. Having a full seven years, starting from when the drug is approved, could reduce costs. I would have a system where generic drugs are free to the consumer, over Brand Name Drugs that provide the same effect. Insurance companies should be required to pay the full cost of such drugs, with no co-pay.
I am a 74-year-old under-utilizer of health care. I can afford the $10 a month co-pay for the one Thyroid drug I take. I pay almost $200-per month for my group health insurance from my former employer. I see a Physician Assistant, once a year. I do not make enough money with my retirement pay and Social Security to afford many of the drugs others take in order to not die. I will not burden my family or friends if and when I have to face a choice. I suspect, I am not alone in that sentiment.