The sharp rise of the costs of prescription drugs during the past years has been one of the pressing problems that people today face. As a result, this reality has sparked numerous debates on the issue. …
It will tackle the price differentials within the different sectors of the society and determine who pays the most for prescription drugs; hence, shouldering most of the costs.
The next part of the paper will discuss how the patient's ability to receive proper health care is hampered through high costs of prescription drugs in terms of (1) limiting the patient's ability to access prescription drugs in particular, and healthcare in general; and (2) limiting the patient's choices of quality drugs. It will also discuss how such restrictions to patients can lead to the overall detriment of the patient's health.
After discussing how the high costs of prescription drugs limit the patient's ability to receive proper healthcare, the paper will then discuss how the current attempts to lower the costs of prescription drugs do not effectively lower the costs, but instead simply transfer them to other sectors of society. It will also discuss how such attempts affect the end-consumer.
The paper will then enumerate arguments against lowering the costs of prescription drugs and refute these arguments to further strengthen the essay’s stand. These arguments are as follows: (1) that lowering the costs of prescription drugs will also lower its quality because pharmaceutical companies will have to cut down expenses on Research and Development; (2) that lowering the costs of prescription drugs will hamper the growth of the pharmaceutical industry, affecting the economy as a whole; and (3) that the increasing costs of pharmaceutical drugs are simply the result of natural economic forces such as inflation and a higher consumption of prescription drugs. The paper will then end with its concluding remarks....
have to cut down expenses on Research and Development; (2) that lowering the costs of prescription drugs will hamper the growth of the pharmaceutical industry, affecting the economy as a whole; and (3) that the increasing costs of pharmaceutical drugs are simply the result of natural economic forces such as inflation and a higher consumption of prescription drugs. The paper will then end with its concluding remarks.
Profiting from Pain: The Pharmaceutical Sector
In order to understand why there is a need to lower costs of prescription drugs it necessary to understand how and why these drugs are priced so high in the first place. In observing the pricing mechanism in the industry, it is apparent that there is a prevailing price differential in the market. Unfortunately, patients who buy retail and pay cash for prescription drugs pay for the highest prices. A study by the Department of Health and Human Services (2000) reveals that patients who pay cash pay 14.6% higher for 200 of the most prescribed drugs than third party buyers. According to Richard Frank (2001), prescription drugs are sold at different prices towards different segments of the society because of the different price responsiveness each segment has. This price differential, as Frank explains, is deeply embedded in the pharmaceutical industry's institutional structure, which allows price discrimination to prevail towards the detriment of the end-product consumer.
Economic theory on price differential states that price differential or price discrimination permeates through an industry where the following market conditions are present: the possession of market power by sellers, the presence of market segmentation based on price responsiveness, and the absence of arbitrage (Dornbusch, et. al., 1999). In ...
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He claims Mexico and US responses to the violence (i.e. more troops, police and increased boarder control) are ineffective at dealing with the ‘drug issue’ because drug prohibition is the cause of the violence, e.g. it drives the drug market underground.
According to philosophy, current regulation on drugs is unjustified and that some drugs that have been made illegal are treated like alcohol or tobacco. Therefore, instead of criminalizing drugs, they should be made legal. The main argument for making drugs illegal in society is because of the harm inflicted on the second party. The use of drugs among people is not a new phenomenon. It has been part of human life.
This is order for them to get competitive grades that can compete in the cutthroat academic, field in the U.S. This may be due to pressure to excel or sheer laziness by the user to get an unmerited improvement over his or her classmates. Examples of commonly used cognitive drugs or “smart drugs” include drugs such as Adderall and Ritalin. These drugs are purchased from illegal pushers who lurk around campus premises countrywide and can be easily accessed by any student.
This paper will evaluate the positions of the proponents of legalization of these drugs as well as positions of those against the topic. Legalization of Drugs Introduction The issue of legalization of illegal drugs has been a heated debate for the past decades. It is apparent that this topic has contentious issues attached to it, since; it affects both the users of these drugs and society as a whole both negatively and positively.
In the Debate.com website, it was revealed that more than74% responded in the affirmative to the question: ‘should all drugs be legalized?”; while only a meager 26% responded negatively (Debate.com, 2013). The major reasons of advocates for its legalization range from it being the most promising move to prevent drug abuse, eroding the black market for trade of illegal drugs, and asserting that prevention of legalization is more costly.
Young generation today is quite vulnerable to the habit of drug abuse with so many different types of drugs available to them on the black market and the existence of groups and channels to facilitate them with the accessibility to the drugs. “With changes in the forms of drugs, technology and other environmental dynamics over time, underlying mechanisms causing drug abuse could have evolved too. Therefore, there is a need to relook into the causal factors for people to abuse drugs” (Foo, Tam, and Lee 190).
Globalization has boosted the production, trading and consumption of these drugs and the consumption of which are associated with negative social, economic, political and health consequences (UNRISD, 1994). Hence many experts have called for a ban on the production and sale of these drugs by implementing effective strategies (UNRISD, 1994; Chakwe, 2013). However, the already existing drug bans in several countries has done little to reduce the production and consumption of drugs as a result of which many experts have suggested legalization of drug production and trade which offers more options for regulation (The Economist, 2013; Wendel, 2013).
As drug works as an antidote to depression initially, depressed people look for it in sheer desperation to feel happier, although momentarily. Eventually the same drug will react as the inducer of further depression and the entire process becomes a vicious circle of ruin, disease and debilitation.
I would like to take the hypothesis that "depressed people are more likely to take drugs. Un-depressed take drugs, but they are a negligible percentage." There is a very strong bond the two from whichever angle one looks at it.
ries with the elimination of undesirable drugs as was anticipated, the war on drugs has instead served to heighten violence, contribute to the development of organized crime, fill the prison system past capacity, consume large amounts of capital and has still had very little