• Identify the problem/concern: Prescription drugs have been marketed at an exceptionally high price across the country, making a high number of individuals and families unable to afford them. The costs of many lifesaving drugs have been sharply increased without any rational. Recently the cost of the medicine called Daraprim, used as the standard of care for treating life-threatening parasitic infection, was increased to $750 from $13.50, by the drug company the Turing Pharmaceuticals (Pollack, 2015). Another pharmaceutical company Mylan recently increased the price of EpiPen, the epinephrine auto-injector more than 500 percent than the price in 2007. The epinephrine auto-injector called EpiPen and EpiPen Jr, are intended for immediate administration
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It is possible to control the drug prices with some government legislations since the Daraprim pills are sold for only $1 or $2 a pill abroad (Long, 2016), and some people are importing EpiPens for under $100 from Canada and overseas websites -an act that the FDA says is technically illegal and potentially dangerous (Tuttle, 2016). So if the same drugs are available for a cheaper price abroad, the proposed legislation can bring down the cost of these critical …show more content…
If so, include it. The requirement for the drug companies to report the cost associated with their drug, is generally addressed in “Drug transparency bills”, by several states like California and Colorado. The California State has introduced a bill, AB 463 titled, Pharmaceutical Cost Transparency Act of 2016, which would require prescription drug manufacturers to file a report, no later than May 1 of each year, with the Office of Statewide Health Planning and Development on the costs for each qualifying drug (California Legislative Information, 2016). The bill, HB16-1102 - Drug Production Costs Transparency Requirements, proposed in Colorado General Assembly, mandates the drug manufacturers to report production costs for certain high-cost prescription drugs (LegisPeak, 2016). New York and Virginia are also proposing similar legislation like California and Colorado (Ridel, 2016). Massachusetts legislation, S 1048, proposes cost disclosures and price caps for prescription drugs ,and Pennsylvania is setting up a benchmark for pricing anti-cancer prescription drugs (Ridel,
It is possible to control the drug prices with some government legislations since the Daraprim pills are sold for only $1 or $2 a pill abroad (Long, 2016), and some people are importing EpiPens for under $100 from Canada and overseas websites -an act that the FDA says is technically illegal and potentially dangerous (Tuttle, 2016). So if the same drugs are available for a cheaper price abroad, the proposed legislation can bring down the cost of these critical …show more content…
If so, include it. The requirement for the drug companies to report the cost associated with their drug, is generally addressed in “Drug transparency bills”, by several states like California and Colorado. The California State has introduced a bill, AB 463 titled, Pharmaceutical Cost Transparency Act of 2016, which would require prescription drug manufacturers to file a report, no later than May 1 of each year, with the Office of Statewide Health Planning and Development on the costs for each qualifying drug (California Legislative Information, 2016). The bill, HB16-1102 - Drug Production Costs Transparency Requirements, proposed in Colorado General Assembly, mandates the drug manufacturers to report production costs for certain high-cost prescription drugs (LegisPeak, 2016). New York and Virginia are also proposing similar legislation like California and Colorado (Ridel, 2016). Massachusetts legislation, S 1048, proposes cost disclosures and price caps for prescription drugs ,and Pennsylvania is setting up a benchmark for pricing anti-cancer prescription drugs (Ridel,