Prescription drugs are too expensive for many Americans. These companies are trying to change that

It's an experience millions of Americans have had: you go to the doctor, get a prescription, take it to the pharmacy and get hit with a staggering bill, sometimes running into hundreds of dollars even if insurance covers a part of the cost.

"In the US, we're unique in letting drug companies basically set their own prices," Andrew Mulcahy, a senior policy researcher at the RAND Corporation who focuses on prescription drugs, told CNN Business. Americans spend around $1,200 a year on average for prescription drugs — more than any other country — according to the latest available OECD data. High drug prices have been a major issue in the United States for years, one that the government and lawmakers have worked to address. But those efforts have moved slowly and with limited success, prompting private firms to step in to try to bridge the gap.