What is the solution to high prescription drug Prices do you think?
2
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This article is more about procedures: [wbur.org]
and the prices in the US comparative to other Countries.
But it does seem America is particularly expensive in drugs alone too: [drugwatch.com]
This one would indicate that the US as been buying big pharma for years, possibly because of the price that 92% of the population pay for their drugs: [xconomy.com]
But the answer does seem to be move out of the US! (Lols).
Now it seems the UK is discussing deals with the US. Staying healthy has never been more important,(if you have the option, apologies if there are factors out of your control).
girlwithsmiles
Level 8
Aug 1, 2020
1
Open the US market to international competition. Those must be tested and checked to see if there are any adverse conditions in other countries.
PondartIncbendog
Level 8
Aug 1, 2020
0
Testing is not necessary. Other countries buy the same drugs from the same Big Pharma
Government regulation is the only way to solve price gouging by Big Pharma.
LovinLarge
Level 8
July 31, 2020
0
And how do you do that without removing the incentives for Pharma to create new drugs that will save lives?
@dermot235 I don't know for certain that it would, but if we presume that it would, I suppose there would have to be a formula that linked the costs of the drug, including R&D, to the price of the drug. This is an area of expertise that people in this field spend their careers developing ideas about how to find a balance but Big Pharma is so selfish they won't participate.
@LovinLarge I think we need a marketplace to incentivise innovation. But when a Pharma company has a drug that can save your life, then normal market forces just don't go to work to create incentives that are proportionate to the investment made by Big Pharma. Even thought Big Pharma spends Billions on research and development, they make Profits that are exponentially greater than their investments. I don't think Drugs need to be as expensive as they are to create incentives. The quest is how do you stop Big Pharma from charging extortionate prices in the US. Highest drug prices in the world are in the US.
I was without health insurance for a while before Obamacare. Mr doctor wrote me prescriptions to buy meds in quantity of 100 and I was buying genetics from Canada as cheap as my copays were.
barjoe
Level 9
July 31, 2020
0
Is that your idea of a solution to this Problem?
@dermot235 they recognize patent produces. They allow generics of a reverse molecule made with a process. The molecule is the same but the process is different. Most of those generics are made immediately mostly from Indian manufacturers. This can be sold iby Canadian apothecary 5 years after the drug was introduced.
@dermot235 The principal law for patenting system in India is the Patents Act, 1970. Initially, according to the provisions of this law no product patent but only process patents could be granted for inventions relating to food, drugs and chemicals. However, since 2005 product patenting is allowed in India meanwhile China does whatever they want on everything else
@dermot235 it started with this but they're making a version of almost everything shortly after a drug is released. Those drugs appear before review board after 5 years. I don't know how this is off topic. Open forum anyway [ncbi.nlm.nih.gov]
@barjoe When a drug is purchased in the US it is essential purchased by the individual through there insurance company. When a drug is purchased in Europe or Canada it it bought in Bulk by a government for it's FREE health care system. So the Government health care system has better buying power because it buys drugs in Bulk. It's that simple. You private health care system is not good at buying drugs because of the way it's set up
I recommend the book "Bad Pharma" -- a very good read :
FearlessFly
Level 9
July 31, 2020
0
The Book looks interesting. But foreword we can read now does not answer the question
@FearlessFly Not sure the Book really tackles why Drugs are so much dearer in the US than any other country in the world?
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