Solutions For The Spiraling Prices Of Pharmaceuticals

816 WordsApr 22, 20164 Pages
Solutions for the spiraling prices of pharmaceuticals. Pharmaceutical companies are one of the fastest growing businesses in the United States, because individuals want to be healthy and live longer. In order to stay healthy, individuals are more likely to have multiple prescriptions or over-the-counter medication, especially the elderly. Every month, about half of the population of Americans take different forms of medication such as, vitamins, birth control or antibiotics. These different forms of medication help millions of people in different ways and save lives. The article, “High drug prices,” states that the “U.S. now spends approximately 15.0 percent of its GDP on health care” (Okunade). The prescription drug cost is one of the major concerns in the United States because of the fluctuating prices. Another article stated, “The challenge here is that drug prices are growing astronomically and becoming not only unaffordable to health-care system, but to consumers as well” (Mangan). The cost of medication is not only a burden on the government, but also to individuals that have various medications, and especially those who pay out of pocket cost. There are different reasons to explain the increase in prescription drug cost; the high demand for medication due to the baby boomers, patent protection on most drugs, the use of drugs instead utilizing preventive measures. This election year, several presidential candidates have to convince the nation about various issues
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