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Analysis: Drugmakers face more scrutiny of discordant U.S. prices

The world's biggest drug makers have for years enjoyed rich premiums for their medicines in the U.S. market. Those days may be coming to an end.Companies like Pfizer Inc and AstraZeneca have grown dependent on higher U.S. prices to generate profits as generic rivals to their best-selling medicines enter the world market, Europe's government-run health plans clamp down on spending and sales growth in emerging markets stutters.Now President Barack Obama's health reform law will bring more scrutiny of spending on drugs and medical care in the United States. As a result, healthcare experts say, downward pressure on drug prices will begin to mount within three to five years.That not only presents a risk to the robust profits generated by the industry, but could influence the amount of money companies chose to invest to develop innovative medicines.Drugmakers' reliance on the U.S. market "is the greatest risk to the sector," said Rajiv Kaul, portfolio manager of Fidelity Investments Select B...

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