Despite “Big Pharma” making billions of dollars in profit every year, they maintain high costs on medicines; consumers must decide between staying above debt or staying alive. It is important to take this into consideration when discussing the economy and the world of medical discovery, and our future as a country. Price corruption within big corporations is the cause of many Americans’ daily dilemma. If drug companies do not reduce the cost of life-saving medicine, American citizens will be put into a situation where they will be forced to make horrifying moral decisions, which may lead to death.
The most recent example of corruption, as of this essay being written, is Martin Shkreli. The co-founder of the pharmaceutical company MSMB, and ex-hedge-funder, his net worth is about $27.1 million. Nevertheless, Shkreli rose the price of Daraprim (generically known as Pyrimethamine) from $13.50 to $750. For those who do not know, this is an anti-parasitic medicine used to treat Toxoplasmosis and, the more well known, Malaria. According to the Center for Disease Control and Prevention, there’s “approximately 1,700 cases of Malaria every year”, showing just how many people this affects. Shkreli was taken from his post in the company March of 2018 for security fraud that resurfaced from his time in a hedge fund, not for his abuse …show more content…
Recently in states all across America, bills have been passed making it mandatory that schools carry Epipens (Epinephrine), for emergencies. Texas’ Legislature passed a bill in 2015 referred to as S.B. 66 “Each school district… adopt and implement a policy regarding the maintenance, administration, and disposal of epinephrine.” Prices for Epinephrine have increased over 400% as of 2009, a box of two Epipens is estimated to be $300 at its cheapest. This is another example of Big Pharma taking advantage of the people's desire/need to be healthy, and making money off of it as a
The most recent example of corruption, as of this essay being written, is Martin Shkreli. The co-founder of the pharmaceutical company MSMB, and ex-hedge-funder, his net worth is about $27.1 million. Nevertheless, Shkreli rose the price of Daraprim (generically known as Pyrimethamine) from $13.50 to $750. For those who do not know, this is an anti-parasitic medicine used to treat Toxoplasmosis and, the more well known, Malaria. According to the Center for Disease Control and Prevention, there’s “approximately 1,700 cases of Malaria every year”, showing just how many people this affects. Shkreli was taken from his post in the company March of 2018 for security fraud that resurfaced from his time in a hedge fund, not for his abuse …show more content…
Recently in states all across America, bills have been passed making it mandatory that schools carry Epipens (Epinephrine), for emergencies. Texas’ Legislature passed a bill in 2015 referred to as S.B. 66 “Each school district… adopt and implement a policy regarding the maintenance, administration, and disposal of epinephrine.” Prices for Epinephrine have increased over 400% as of 2009, a box of two Epipens is estimated to be $300 at its cheapest. This is another example of Big Pharma taking advantage of the people's desire/need to be healthy, and making money off of it as a