Why Pharmaceutical Prices Keep Inflating
They are as important as oxygen is to us. These drugs are intended to help facilitate treat different medical conditions affecting humankind as well as some for animals. They are important people in the society. These drugs may be curative, preventive, rehabilitative as well as palliative drugs.
Pharmaceutical prices are regulated worldwide but the price violation still continues in most cities. We have known pharmaceutical products to be expensive. Evidently, the federal governments fund this process but the pharmaceutical companies pocket out a lot of money too. The cost of clinical trials often uses millions of money to test a single drug.
Marketing these drugs is also not a walk in the park hence these adds up to the increasing prices of drugs on an everyday basis. They are a necessity that every human being at one point will need.
Determining the price of a new drug involves both science and art. These diseases can affect anyone but only those with monetary resources are better placed to get medication. The government spends more health care more than in any other sector of the economy. Billions of money are yearly pumped by the government on health care services as well pharmaceutical drugs.
There is no way out; they are in business and we are in need. When it comes to selling the drug the pricing if far much overboard. Drugs may have different prices; one from the manufacturer and one that the ultimate consumer pays. It is evident that none of these people pay the list price which is the one written down by manufacturers.
In other cases, physicians purchase the drugs through an intermediary or a wholesaler. A customer is frequently regarded to as the king as he or she determines what he or she wants. The decision on pricing ,quantity too be administered is solely vested on the physicists.
With all these factors illustrating the essence of high pharmaceutical prices, it is important for the bodies involved in price regulation to diligently follow up and make sure that the common man receives better terms of drug acquisition. It is therefore important for the bodies with the role of regulating these prices to assist so as to favor everyone. These are commodities that are essential for a healthy living since nobody can rise and say that they are one hundred percent (100%) healthy. Again, everything is contaminated ranging from the air that we breathe all the way to the health risk that comes with the machines that we operate. The business ideology should as well incorporate humanity at large.
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