Essay on The War on Pharmaceutical Companies

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).

Imagine this: you are tragically diagnosed with a chronic life-threatening illness. Your only hope to survive is through medication to treat your disorder. The medicine is pricy but you can work out the costs each month. One day, you go to fill your prescriptions and realize the cost of a $13 pill has jumped to an astounding $750. You need this patented medication to survive and to afford it you end up losing your home, filing for bankruptcy, and sleeping in your car. This story sounds fictional but it is the reality for many Americans who can no longer afford their grossly overpriced medications.

The rise in drug prices is causing the public to ask why this is so and why there isn’t anything being done, or what the reason could be for sky high prices. Some of the reasons include pharmaceutical companies setting their drug prices

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

"In the past two decades or so, health care has been commercialized as never before, and professionalism in medicine seems to be giving way to entrepreneurialism," commented Arnold S. Relman, professor of medicine and social medicine at Harvard Medical School (Wekesser 66). This statement may have a great deal of bearing on reality. The tangled knot of insurers, physicians, drug companies, and hospitals that we call our health system are not as unselfish and focused on the patients' needs as people would like to think. Pharmaceutical companies are particularly ruthless, many of them spending millions of dollars per year to convince doctors to prescribe their drugs and to convince consumers that their specific brand of drug is needed in

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

We in America tend to take medications for almost any problem we have, from headaches to gastrointestinal pain, to more serious chronic disorders such as depression and attention deficit disorder. While many of the uses of such medications may be necessary and legitimate, many are not, and due to this fact, many people become dependent on medications, mentally, and or physically. This problem is not simply the fault of the individual; in fact, the blame can also be placed upon the medical community, and the pharmaceutical companies who produce the drugs. How often can one turn on the television to see advertisements for Claritin, Aspirin, Pepto-Bismol, or even Zoloft or Ritalin? The pharmaceutical industry is motivated by monetary

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.

Market failure appears when there is a failure in allocation of goods and services. When the market is unsuccessful, the government is called to intervene and correct the failure. Over the years, government participation in the pharmaceutical market has been more wide-ranging than any other good or service. With the government’s ability to regulate, mandate, inform, finance and provide, their intervention to overcome market failure can be beneficial for the economy. Market failure plays a significant role in today’s economy.

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).

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.

In the United States of America, there is prescription drug abuse epidemic that continues to be a growing concern. Prescription drugs cause a large amount of overdoses and result in an abundant amount of deaths each year. A government study conducted shows this epidemic is scarily on the rise, “A recent government study found a 400% increase in prescription drug abuse between 1998 and 2008” (Schreiner 531). The excessive use of prescription drug abuse is leading to nonmedical use of the drugs, and creating addiction. Furthermore society is paying an extreme amount of money in this battle. With this drug abuse on the rise, legislators must create a law preventing doctors and pharmacists from over prescribing prescription medications as well a law to require they both participate in drug monitoring programs to prevent drug abuse. Now is the time that doctors and the pharmaceutical industry must be held accountable for their role in causing one of America’s worst addictions. The over medication of prescription drugs in the United States must be brought to an end by legislators creating laws to stop

This paper looks into a proposal on the introduction of a universal pharmaceutical policy or pharmacare in Canada. Canada is a country that has a global reputation of offering a successful healthcare to its populations. The Canadians enjoys free healthcare facilities because when they get sick they just need to visit the hospital or their doctors even when they do not have money. The government funds for the universal health policy by use of government revenues. The government gets the funds to pay the policies through taxation of Canadians who are well-off. Most Canadians especially the ordinary Canadians have benefited from the universal healthcare as it has increased their accessibility to health services (Fierlbeck, 2011).

A lot of people, particularly the patients who need them, are beginning to wonder why American drug prices are so high. It makes sense why the pharmaceutical companies are selling at the prices they do: they are a business; and they want to, above all else, make a profit. But the real question is: what are all of the

Despite lower pricing by reducing margins in the pharmaceutical industry and the demonstration that medicines can be produced locally in a number of countries, the population has massively turned to the illicit market, due to the absence of a pharmaceutical monopoly.