The Regulation Of Pharmaceutical Drug Costs Essay

1636 Words Dec 9th, 2016 7 Pages
The regulation of pharmaceutical drug costs should take precedence in the United States Government due to the issue that prices are becoming too unbearable for the working class and low class citizens to afford. Many families are now having to decide whether or not to continue buying into these lifesaving medicines, or use their money for other basic needs, risking their health. An issue that sparked this need for regulation was Martin Shkreli raising the price of Daraprim, which is used to treat a life-threatening condition called toxoplasmosis caused by a parasitic infection. Daraprim was originally sold for $18 a pill and was increased to $750 a pill overnight. “He said that with the new profits, the company could invest in researching a new drug for the condition.” (Cha, 2015) However, there is not enough sufficient evidence requiring a need for a new drug, especially when only two thousand patients use it. Shkreli was not concerned for the patients’ health because he knew that the insurance companies would pay for the drugs. Unfortunately, not everyone’s health insurance covers prescription drugs, and there is always the threat that insurance companies could either drop the coverage completely, or increase the co-payment and deductibles.

The underlying issue was that the drug was monopolized, setting the stage for other companies to follow suit with their own patented drugs. Fortunately, another company called Express Scripts Holding managed to create an alternative…

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