Soaring Drug Prices: Why does it cost so much?

Soaring Drug Prices: Why does it cost so much?

Shared by:

The ever-soaring drug prices have been in the centre of many discussions among patients and healthcare professionals alike. But despite many debates and frustration over the matter, no one really seems to know how much it really cost to develop a new drug.
9 Aug 2016 - General
The costs continue to rise for patients, however, in Australia they offer such a good subsidy that it disappoints me when I hear patients complaining about the cost. General patients pay a minimum of $35 for drugs (where the cost price is more than $35). If cost price is below $35, e.g. amoxycillin, patient's will pay the cost price plus what the pharmacy adds on (dispensing fee). Concession patients (seniors, low income earners) and repat patients (veterans) pay a minimum of $6 for drugs re...
 (Total 300 words)
Eileen N I totally agree. The discrepancy between prices of generic and branded drugs are eye-popping. Of course, the pharmaceutical companies will claim that they spend a lot on clinical trials but they will be making billions of dollars if a drug gains popularity for a long time. Pharmaceuticals will not invest in these trials if the potential return is less than what they spent. On the ethical side of medicine...
 (Total 183 words)
Aside from the patents and trying to recover the money spent in the tedious process of drug development, I believe a huge cost goes into aggressive marketing. I’m not sure about how it is in other Asian countries, but I know that here in the Philippines, a lot of large drug companies invest large sums into the process of marketing and distribution to various pharmacies and even to doctors. Medical representatives, who act as the salespersons and go to doctors’ clinics to provide samples and pers...
 (Total 133 words)