Prescription drug prices in America are out of control. On this, it appears nearly all Americans can agree. In order to address this pressing issue, many on the left have called for a new system of price fixing based on foreign drug prices that they claim would solve all of the problems. Yet, in their political calculus, these proponents of an international pricing index (IPI) and more stringent government regulation of healthcare seem to have discounted what has empirically been the most important tool we have. Rather than look far across the oceans to find a model to fix our problem, we need only to look inward to see what’s already working: deregulation.