I’m going to tell you something everyone knows, companies want to maximize profits, if they were having loses selling to europe, they would make more profit by selling only to USA and would do just that. In numbers:

If a drug cost 10$ to produce, and they sell it for 8$ to Europe, at a 2$ loss, while they sell it at 20$ to US at a 10$ profit for a total 8$ profit, they can increase their profit in 2$ just by only selling to US.

So if pharmaceutical (by the way some are European not “yours” XD) keep selling to Europe is because the real scenario looks more like a 5$ cost where they make 3$ profit in Europe and 15$ in US. So even if the margin is lower in Europe, still makes sense for them to sell in Europe. This is basic economy, just saying.

But let’s look in the part that bothers you, our government negotiating for everyone and getting better prices. Basically a drug patent is a monopoly. A monopoly is the opposite of free competence which what supposedly makes the market efficient. But real world being as it is, you have to deal with that. And it is a basic good (literally live or death) so all the negotiation power is on the pharmaceutical companies. How does economy tell you to compensate for that? Monopsony, just one consumer (or association of consumers). Governments have a stronger negotiation position that insurance companies, hence, better results.

So yes, your government should pass the law, and I would probably would be like “tell you so”. I mean, the idea that pharmaceutical companies lose money for no real reason and that US people pay for us sound a lie pharmaceutical PR told US people so they doesn’t realize they are being rip-off taking advantage of US pride (which is good on other context). Again, basic economy and maths tell us that they aren’t selling at a loss, they are selling with less margin, which is quite different. What US people are subsidizing is some CEOs bonuses. XD