If I thought, as you apparently do, that drug companies are so incredibly profitable, I would either start my own company or buy stocks in them.
Americans are being encouraged to treat access to drugs as an entitlement, even though most modern day drugs didn't even exist thirty or forty years ago. I'm embarassed to be associated with such weak thinkers.
If CMS says a given drug can be reimbursed under Medicare/Medicaid at a certain rate, then that rate is what Everyone will charge.
Competitive pricing is off the table. And you’re absolutely right that those drugs are not an entitlement even though most Americans do regard them as such.
Govt subsidizing of drugs is by and large what Drove the price of many of them into the stratosphere.