There are very few government controls on drug prices now. Insulin will be a big hit, but as far as most others, they're already charging what the market will bear.
The Biden administration chose ten drugs to price-limit, but the drug companies are playing games like discontinuing the price-limited drugs. We won't make progress, but most people won't notice the sliding backward.
Generic prices depend on the popularity of the drug -- lots of companies making it, lower prices.