Why Are Prescription Drugs So Expensive?
How Are New Medications Developed? http://testu.be/1Pmr4A3 Subscribe! http://bitly.com/1iLOHml Americans are paying outrageously high prices for prescription drugs compared to the rest of...
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In August 2015, pharmaceutical executive Martin Shkreli made headlines when he hiked the price of a lifesaving drug, Daraprim, by more than 5000 percent, from $13.50 to $750. But this is not a unique case. According to a major consulting firm, the cost of branded drugs in 2015 outpaced inflation for the 10th year in a row. And Americans are spending 27 percent more on specialty drugs, like those for AIDS and Hepatitis C. This has been so prevalent that 2015 has been dubbed the “year of prescription drug outrage.” So, who decides how to price prescription drugs? And why are they so expensive? Well, there are a lot of forces in the U.S. market that influence how drug prices are set. Pharmaceutical companies invest an average of 2.6 billion dollars in every ne...
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In August 2015, pharmaceutical executive Martin Shkreli made headlines when he hiked the price of a lifesaving drug, Daraprim, by more than 5000 percent, from $13.50 to $750. But this is not a unique case. According to a major consulting firm, the cost of branded drugs in 2015 outpaced inflation for the 10th year in a row. And Americans are spending 27 percent more on specialty drugs, like those for AIDS and Hepatitis C. This has been so prevalent that 2015 has been dubbed the “year of prescription drug outrage.” So, who decides how to price prescription drugs? And why are they so expensive? Well, there are a lot of forces in the U.S. market that influence how drug prices are set. Pharmaceutical companies invest an average of 2.6 billion dollars in every ne...
