U.S. Versus International Drug Prices: Would the U.S. be better off with a European-style pricing system?

The article offers information about on how rise in prescription drug costs and the associated out-of-pocket spending burden on consumers in U.S. It mentions efforts of U.S. government for protecting consumers from rising drug prices by using an external reference pricing (ERP) system that refers to the practice of using the price of a pharmaceutical product.