Pharmaceutical Industry: Does America have the cure for high drug costs? - by Kerry Sheridan

Soaring prices for everything from cancer treatments to hepatitis C pills that cost more than $100,000 have sparked outcry in the United States in recent years, but calls for change have gone largely unheeded.

Now, a growing movement of politicians, patients and doctors is proposing to overhaul the US system, which has no regulations in place to keep drug prices low, by better matching the value of a drug to its actual price tag.

"We need the US system to change in order to see a global change,"said Doctors Without Borders' US legal policy adviser Judit Rius, who blamed a "systematic failure of the innovation system" for rising costs of vaccines and drugs worldwide.

While the problem has been known for years, anger surged this week when video emerged of a young CEO, flippantly explaining why he raised the cost of a decades-old pill for a parasitic infection from $13.50 to $750 overnight.

The clip went viral.

News headlines proclaimed Turing Pharmaceuticals CEO Martin Shkreli the "most hated man in America," and he soon vowed to roll back the price, but did not say by how much.

Read more: Does America have the cure for high drug costs? - Yahoo News UK