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Regulation in the healthcare industry is the reason. Healthcare companies/drug manufactures have monopolies to the rights to sell certain medications. So they can set the prices. It would be illegal to import medications into countries that have licenses given out to these drug manufacturers. Joe Biden and the democratic party will regurgitate the same lines about the healthcare system in the U.S. but their solution is to generate money on the federal level and give them to companies in the private sector which only encourages them to raise their prices even more.
This is the shittiest system I have ever heard of and I am 100% sure that such a system doesn't exist anywhere outside the United States. Monopolies exist everywhere. But nowhere else it results in a 10,000% markup to the final product. And every now and then the media creates hype. A few years back, there was a lot of hue and cry when Martin Shkreli of Turing Pharmaceuticals increased the price of Daraprim by 5,000% back in 2015 ($13.50 per pill to $750). Similarly, Eli Lilly faced a lot of flak recently over the sky high prices for generic insulin. But the media keeps these issues in limelight only for a few days. Once they receive advertisement deals from the Pharma companies, they allow the news to die down.