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Increasing Prescription Prices Harm More Than Heal The Increasing Prescription Prices Harm Health More Than Heal You walk up to the pharmacy and give your last name
no overriding business justification. Practices that meet both characteristics are likely to harm consumers by increasing prices, reducing availability of goods or
and, ultimately, high salaries. Prescription drugs, inelastic in demand, are needed regardless of price. Therefore, the free market implications of allowing the companies
online shopping, only those consumers located in border regions would be able to take advantage of the differential pricing and GSK would have been better able to
or production, we are faced with a positive externality. example education externalities keep the market from reaching allocative efficiency because the gains or
Submitted by amm2116 on February 12, 2007
Category: Social Issues
Words: 1770 | Pages: 8
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The Increasing Prescription Prices Harm Health More Than Heal
You walk up to the pharmacy and give your last name to the pharmacist so you can get your medications. You're just picking up two prescriptions for your child's asthma, no big deal. Then, you hear the price. Startled by the triple digits, you drop your wallet. Three hundred bucks for two medications, is the pharmacist kidding? Unfortunately, he is not. The price of prescription drugs has sky-rocketed over the past 20 years. Why? It's all about monopoly, and not the kind with the iron and the shoe. Large United States pharmaceutical companies have control over the selling of prescription drugs, and they like to keep their prices high. The increasing prices of prescription drugs causes many American citizens to choose between eating and getting the medications they need, forces state governments against the Federal Drug Administration and even some individuals to look to foreign countries for assistance.
Bread or a heart attack? Turkey or high blood pressure? The high prices of prescription medications are forcing many Americans to make the choice between two very different products, but both needed for maintaining their health. According to a report put out by the Center for Studying Health System Change, between 2001 and 2003, the number of Americans that faced problems with buying prescriptions went from 12.0 percent to 12.8 percent. For adults with chronic conditions, it changed from 16.5 to 18.3 percent (Reed, 1). United States citizens are struggling to purchase the medications needed for their health. So, why is the American government allowing its own citizens to either eat or not get the treatment they need when they're sick? Many pharmaceutical companies argue that money for research is the problem. In a report from Harvard Medical School, it estimates that $49.3 billion was spent by drug companies towards research in 2004 (Golan, 39). That's a chunk of change...
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