Innovation

The Miserly care not about safety: Drug prices questioned


A new survey from the Kaiser Family Foundation, USA Today, and Harvard shows that most Americans now want drug prices regulated. The study’s summary shows people are having a tough time paying their mounting drug bills- leading to a situation where they either do not take their medicines or reduce the required dosage. This is one of the main reasons they would like drug prices reduced. It is however strange and worrisome that their primary problem with the pharmaceutical industry is neither safety nor advertising.

This would most definitely lead to a cut in innovation, even though The Washington Monthly’s reports that that objection can be met by regulation proponents.

This would apply largely, to genetically modified drugs that cost a great deals in testing, to develop and to pass through the regulators. Ironically, this drive for reduction of prices comes at a time when some of the largest selling drugs are about to come off the shelf- all patentless including Prozac and Zocor- frightening Wall Street away from the industry.

While there is a definite divergence of opinion as to whether” this is right move to make?”. However, it must be seen as per several of our previous posts, there is a definite grouse against the leading pharmaceutical companies for maintaining several essential medicines at such high rates. Perhaps this is the right time that the Americans take note of this situation and concentrate their efforts on safety and awareness and better drugs to combat all situations, rather than the rising economy.

Find the full report here.

Tags:

Leave a Reply

Your email address will not be published.