The Rise in the Price of Prescription Drugs

Increasing prescription drug prices Over the years, pharmaceutical technology has made remarkable results in the pharmaceutical industry. Everyday more and more medications are used to treat diseases and viruses, and more medicines have been studied and tested. However, these "miracle" medicines are expensive and many Americans can not buy them. Between 1981 and 1991, prescription drug prices rose three times faster than inflation rates, and the pharmaceutical industry became the most profitable company in the United States.

In 2018, the domestic law is addressing the problem of soaring and rising prescription drugs. The US confirmed the largest victory in the state legislature in 2018 on the cost of prescription drugs and the important legislation discussed at the 2018 meeting. This may be an agenda again in 2019. After the California landmark SB 17 passed last year, members of Oregon State and Connecticut State followed lawsuits to pass similar prescription drug price transparency law. In Maryland and Illinois, the goal of the Legislature is to further promote the bill to set prescription drug tax rates for all payers in the state and to prevent prescription drug price fraud. Here we provide information on these important state bills in 2018.

In this article I will explain the price of prescription medicine, but there are various kinds of prescription medicine that needs explanation. First, patented medicines, monopolistic producers, and there is no direct competition. And there are generic drugs with expired patents that allow other manufacturers to manufacture. Biopharmaceuticals comply with the life-cycle model of small molecules or traditional medicines, but accept higher prices and specific controls on general competition are taking place. Tumor medicine is another kind, as historically high prices are common, are expected to rise, and are more tolerable given the severity of indications. Establishing laws to promote the development and sale of orphan drugs means complying with market dynamics different from traditional drugs. Finally, when patents are exhausted and other producers can make the same medicine, generic medication is introduced.

Efforts towards expensive prescription drug challenges in the era of precision medicine: a systematic review of drug lifecycle, therapeutic drug market, and regulatory framework

The price of prescription drugs has risen sharply in the past few years, so it is a big problem in the United States. In the article published at the business outlook "high drug prices, elderly people in the United States and pharmaceutical expenditure management policy", in the countries of the Organization for Economic Cooperation and Development (OECD), it is pointed out that the US has spent about 15% of home medical care It was. Gross Domestic Product (GDP) (Okunade). Increasing the cost of prescription drugs is one of the main factors leading to an increase in the overall cost of medical expenses. "According to the National Health Care Management Laboratory in Washington, DC, Americans spent an average of $ 154.5 billion on prescription drugs since 2001. They spent $ 78.9 billion in 1997 (Isax). There are many reasons for the cost of medicine to rise, but there are increasing demand for medicine, abuse and problems of "moral hazard", patent protection for brand drugs.