Drugs are cheaper in Canada than they are in the U.S. That's a simple fact. This is largely due to stringent regulation in Canada that prevents drug manufacturers from charging exorbitant prices for their products. Of course, the thought process here is that a medication doesn't do any good for the patient if they cannot afford to purchase it and take it.

On the opposite end of the spectrum, the U.S. does not regulate drug prices. In fact, they play absolutely no role in the price-setting process. Unlike most other countries, the U.S. allows drug companies to determine the prices of medication without any involvement from the government. This completely overlooks a very important factor: how high prices can affect the health and well-being of U.S. residents.

Prices are not regulated by the government once a new drug is manufactured and ready to sell. Instead, the decision is made by the drug companies themselves. Drug prices are then negotiated by individual insurance companies before they are sold to U.S. consumers.

Of course, this means that the type of insurance you have (if you have insurance — because Americans are not required to carry it and many don't have any) can have a major effect on the cost of your medication. If your insurance company wants you to take a certain medication over another (say, Symbicort over Advair), they can put Advair in a higher tier so you have to pay more for it.

They can design their prescription plans in such a way that it essentially discourages people from taking certain medication — arguably something that they have no business doing because it's often not in the best interest of their enrollees.

If you don't have insurance at all, or if your insurance company lists your medication as top tier, you're left paying the cash price for it. In some cases, this isn't a big deal — there are some generic medications that are very affordable. However, if you need something expensive (especially for a chronic disease), you might be out of luck.

Research shows that U.S. drug prices are consistently higher than in European countries. Prices are six times higher than in Brazil and 16 times higher than the average lowest-price country, which is usually India. On average, Americans spend $1,200 per year on medication, which is more than anywhere else in the world.

According to an article by Alison Kodjak of NPR, "[a] report published... in the journal Health Affairs, found that the cost of brand-name oral prescription drugs rose more than 9 percent a year from 2008 and 2016, while the annual cost of injectable drugs rose more than 15 percent. The price of insulin, for example, doubled between 2012 and 2016, according to the Health Care Cost Institute. And the price of Lantus, an insulin made by Sanofi, rose 49 percent in 2014 alone, according to the University of Pittsburgh."