What’s the Latest Debate on Generic Drug Prices?


What’s the Latest Debate on Generic Drug Prices?

There has been a national conversation the topic of drug prices, as morality for what people should pay and sustaining an economy hold weight for argument. ABC News reports that Donald Trump has made promises to lower prescription drug costs, but many are skeptical on the steps that are being taken towards this. His latest proposal involved a small discount to people on Medicare at the pharmacy counter, according to the New York Times. Although this new proposal could lower out-of-pocket expenses for people with high prescription bills, it could raise overall costs of Medicare plans for everyone.

John Rother, CEO of the National Coalition on Health Care, stated,

Despite promises to drastically lower prices the mix of proposed changes does not appear likely to do so, even though there are some constructive proposals.”

Appointed Health and Human Services secretary Alex Azar, a former drug industry executive who saw drastic increases in his company’s prices, stated,

“I don’t know there is any drug price of a branded product that has ever gone down from any company on any drug in the United States”.

Business Insider explains that a lot goes on behind prescription drug costs – a long ladder of people is involved in developing the drug all the way to selling it at a local grocery store. Each hand in the business needs to get paid, and the higher the cost, the more profit is being made. Overall, it seems a change in business model is what’s needed. Pharmaceutical companies and wholesalers are relying on price increases to continue sustaining development, but consumers are struggling to pay them.

There’s no doubt the running course of this country has been to capitalize – proposals made by Trump seem to counter this traditional pattern, causing a lot of concern. Is this a potential reality or a dreamy idea? We’ll have to see as more policies are being enacted and their effects ripple across the country.

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