Banal corporatist propaganda. And yes, the math is basic: very little of the cost of drugs comes from R&D. Much of which is taxpayer-financed through public universities, but due to incestious relationships made possible by Bob Dole, are patented so the taxpayer can enjoy paying through the nose to buy drugs she paid to develop.
You want real innovation and real reforms on drug prices? Reduce the length of drug patents to zero, and make all drug research publicly financed. R&D would no longer be focused on what is the most profitable, and instead the most needed. Drug prices would crater, as billions would no longer be spent on tv ads, no more dividends would be paid, and executive coke-and-hooker vacations to the Bahamas would be a thing of the past.
Socialized medicine: the fiscally conservative option. Always has been, always will be.