a) The main reason behind the high drug prices in the US is the lack of regulations. A lot of other countries have regulatory bodies that are able to put a cap on drug prices. This is not the case in the US. The drug prices are set based on the market requirement and the forces of demand and supply. This causes the prices to soar.

b) A rationale for high drug prices is that the high prices lead to high profits. It is these profits that attract investors. Without this investor money, innovation would stop and new drugs would stop coming to the market.

Drug prices can be controlled through government intervention. This intervention does not need to be forced. There can be negotiations between the government and the pharmaceutical companies.