Essay on The Rise in the Price of Prescription Drugs

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The Rise in the Price of Prescription Drugs In the business of drug production over the years, there have been astronomical gains in the technology of pharmaceutical drugs. More and more drugs are being made for diseases and viruses each day, and there are many more drugs still undergoing research and testing. These "miracle" drugs are expensive, however, and many Americans cannot afford these prices. 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…show more content…
In the United States, there have been three important movements. The first was the passage of the Pure Food and Drug Act in 1906. This was a designed more to control the promotion and marketing of bad foods rather than bad drugs. It came as a result of the exposure of the appalling unsanitary conditions in the Chicago Stockyard in a book by Upton Sinclair called The Jungle. The second of the three movements was the passage of the 1938 Amendment. This came as a result of a drug called Sulfanilamide, which was mixed with DI-ethylene glycol (sometimes called anti-freeze). It killed more than 100 people. Government stepped in very quickly, and, with this new act, recquired the manufacturer of any new drug to present convincing evidence to the Food and Drug Administration (FDA) that the product was relatively safe for use before it was put on the market. The final move was the 1962 Kefuaver- Harris Amendment, which tightened safety requirements and also recquired the manufacturers to provide FDA with evidence that the drug was both safe and effective for its intended clinical purpose. People of the drug industry were outraged because this would delay, often by many years, the time and cost of which a company could market a new product and begin to recoup its investment.2 The drug industry has severely attacked government, feeling that they are too restricted and that government has no right to
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