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The utilization of prescription drugs has increased across all age groups in the US, with 50% of Americans taking at least one prescription drug (Rice & Unruh, 2016). This can be attributed to physician-induced demand, substitution of pharmaceuticals for other medical regimens, commercialization of the products, increase in the aging population and drug insurance coverage, and also the increase in chronic conditions. Lathan discusses the startling fact that the rate increase of prescription drugs purchased was considerably higher in contrast to the US population growth - 71% and 9% respectively (Rice & Unruh, 2016, p. 264).

The prices of prescription drugs in the United States are by far the highest in the world. [1] On average, Europeans pay 40% less than Americans for the same medications. [2] Consumers have been resorting to several ways, sometimes putting themselves in harm’s way, to alleviate the burden of high prescription drug costs. Some buy their medications online or cross the borders to neighboring countries so they would be able to afford buying their needed medications. Others have resorted to the illegal act of selling their unused medications in online forums just to recover part of their expenses. Many factors contribute to the increased drug prices in the United States including research and

Shortages of prescription drugs in the United States are a serious threat to our nation’s health and safety. At first blush, this problem appears fairly simple and straight forward to solve. In reality, there is a complex web of causation with a number of root causes contributing to drug shortages. The aim of this paper is to answer the question: How do we mitigate prescription drug shortages? This discussion is written from the standpoint of advising the current presidential administration how to address this crisis. This essay begins with a discussion regarding the background of the issue. Next, the landscape, including stakeholders in this matter is identified. Following, political, social, economic, and practical factors surrounding

Prescription drug prices are on the rise in the United States. Currently, the United States does not implement a price control on prescription drugs. Every day the supply and demand for prescription drugs fluctuates. Pharmaceutical companies produce drugs that are necessary for survival. Therefore, it is necessary for research and development to continue in the United States. Those suffering the effects of exorbitant prices must do so until a generic form of a prescription drug is produced. Once approved by the FDA, new drugs will make their appearance on the market and patients will no longer suffer financially. Until then, it is necessary for pharmaceutical companies to price their drugs based on the idea of supply and demand. This produces the profit used to fund research. Price controls discourage innovation. If a price control were set in place, of course the price of prescription drugs would decrease. However, the development of new drugs decreases with it. Today’s generation would benefit from lower prices, while future generations would suffer from the loss of drug innovation.

Anyone who has purchased prescription medications has probably wondered why they cost so much, and rightfully so. Medication prices in the United States have been on a steady increase for decades, however, prices have been drastically increasing as of recent. Pharmaceutical companies have tried to justify these price increases due to the demand, the high cost of research, and the high costs of development and approval. Notwithstanding, the extent to which the prices have increased is not justifiable. Americans should be against these high medication prices and take action because pharmaceutical companies are taking advantage of our health care system in order to capitalize from the sick. In order shed some light on this issue, we must examine the magnitude, scope, and consequences of these rises in price.

The rise in costs of prescription medicines affects all sectors of the health care industry, including private insurers, public programs, and patients. Spending on prescription drugs continues to be an important health care concern, particularly in light of rising pharmaceutical costs, the aging population, and increased use of costly specialty drugs. In recent history, increases in prescription drug costs have outpaced other categories of health care spending, rising rapidly throughout the latter half of the 1990s and early 2000s. (Kaiseredu.org, 2012).

Are prescription drugs overprescribed? Are patients being prescribed the correct medications that they actually need? Are generic drugs doing the same for the human body that marked up brand name medications are? These are some of the public’s biggest questions that can be easily answered by research. Everyone is affected by medication and healthcare in general today. Many real life scenarios are offered throughout this writing to support the argument. The following thesis statement is a worldwide problem. Unfortunately, the United States has the largest problem with inflation of drug cost and over-prescription of medications. Many people are to blame: drug manufacturers, insurers, prescribers, educators, and many others. A change is needed.

In contrast to the newer prescription drugs, already existing prescription drugs cumulatively increased 81% from 2005 to 2013. Of these prescription drugs, the ones that treat chronic conditions have had a price increase of $4,336 in 2006 to $11,870 in 2013. These high price points on drugs that have been on the market for several years are a significant factor in the accelerating prescription drug inflammation. An example of rise in existing prescription drugs is Jazz Pharmaceuticals' Xyrem, a drug which purpose is to treat narcolepsy, was in 2007 priced at $2.04 per 1-milliliter dose. In 2014, Jazz Pharmaceuticals' Xyrem was priced at $19.40 per 1-milliliter dose. This means that there was 841% price increase over the course of seven years on the same exact drug. Jazz Pharmaceuticals' is not the only company increasing its prescription drugs in such high amounts. Eli LIlly had a price increase of 350% over the course of 6 years from 2007 to 2013, and Mylan hiked its epipen cost that treats anaphylaxis by 220% in the same six years. Companies say these costs are higher due to a number of reasons. One being that the high costs of these prescription drugs are being used to help find more efficient cures to disease, saving money in the long run. Another being that everything in our economy is inflating so it is only natural that prescription drugs increase as well.

Prescription drug prices rose three times faster than inflation in the decade between 1981 and 1991, making the pharmaceutical industry the nation's most profitable business. Prescription drugs even exceeded the rapidly rising inflation rate for all other medical services. They now represent at least 10% of all the medical

Are prescription drugs overprescribed? Are patients being prescribed the correct medications that they actually need? Are generic drugs doing the same for the human body that marked up brand name medications are? These are some of the public’s biggest questions that can be easily answered by research. Everyone is affected by medication and healthcare in general today. Many real life scenarios are offered throughout this writing to support the argument. The following thesis statement is a worldwide problem. Unfortunately, the United States has the largest problem with inflation of drug cost and over-prescription of medications. Many people are to blame: drug manufacturers, insurers, prescribers, educators, and many others. A change is needed.

We have so many questions when it comes to pharmaceutical prices continuously rising here in America.

This article is of importance because not only does the former commissioner state the reasons medications are so expensive he proposes solutions to the problem. In his conclusion, McClellan admits the FDA “can and should do a much better job of making safe and innovative drugs more affordable.”(McClellan 2009) That is a large first step to solving the problem that so many Americans

The hepatitis C drug Sovaldi® is an egregious example. A bottle containing 84 pills costs $84,000. The cost to manufacture Solvaldi® is estimated to be around $130.19 and the company making Sovaldi® will earn back all the development costs in less than two years, while hepatitis C victims go bankrupt paying this extortionist price for another 14 years or so. Another example is Albuterol, a generic medicine prescribe for the treatment conditions such as asthma, bronchitis, or similar conditions was also cited by the Senate committee as having a 4,000 percent price increase. As one of the top 10 best-selling medicine, Albuterol had an exclusive 63.6 million prescription in the year 2013. It sold for $11 per bottle of 100, 2mg tablet and in April 2014, Albuterol sold for $434, an unexplainable price increase of $423 within six months (Falcon, 2016). “At the average market price for albuterol in October 2013, the drug would have cost Americans $699.6 million to acquire over the fiscal year 2013. Multiplying the new extortionist pice by the number of written script in 2013, the albuterol that once cost Americans $699.6 million per year now costs $27.6 billion. This represents a net change of 26.9 billion dollars more per year for the same generic drug that our health care system must now bear” (Falcon, 2016). The same applies to the Pravastatin, a generic prescription medicine for lowering cholesterol and

According the a graph on the cost of drugs over the year, from the 1980’s to today the cost of drugs has dropped most of them

It is very much evident that the field of pharmacy has been expanding its dimensions at a tremendous rate and contributing a major role in health care. Whereupon practice of pharmacy and pharmacist’s involvement in decision making regarding patient therapy requires considerable thought process integrating several components. One among such components is health care costs, it occupies a significant fraction of the gross domestic product (GDP) of any country in the world. Hence, my focus has primarily been in understanding the economic aspects of healthcare without compromising on safety and efficacy of the therapy.