Should the life saving drugs be exorbitantly priced?
Should the life saving drugs be exorbitantly priced?
Marijn Dekkers, chief executive officer of Bayer, has openly declared that the pharmaceutical company does not make the life saving drugs for Indians, but it is for the western patients who can afford it. The entire healthcare system is in the state of the shock on hearing the statement. There is not anything new in the statement. History tells that the pharmaceutical companies charge the life saving drugs as per their wish. Even the US Company Gilead Sciences came up with a Hepatitis C treatment that cost $1000 per pill. Is it fair for the pharmaceutical companies to exorbitantly price the life saving drugs?
Yes
• It is ok for the big pharmaceutical giants to price the life saving drugs as per their wish as they are here in the industry to earn profits, and not for charity.
• Even the big pharmaceutical companies need a large amount of investment to carry out their research and development work.
• All the business models do not set the prices as per the consumers. The prices are based on the type of benefits offered by the product.
• Monopoly of effective life saving drugs is another reason that gives them every right to charge the prices as per their will.
• The life saving drugs has to undergo a long-drawn-out approval process that again needs huge amount of time and money.
No
• The pharmaceutical companies have every right to make profits but they need to price the drugs rationally.
• The statement given by the Marijn Dekkers, chief executive officer of Bayer, is completely ignoring the humanitarian concerns.
• The diseases are not confined to the wealthy patients. They even attack the poor people. So, companies should think of making the treatment affordable.
• George Merck, the owner of Merck & Co. clearly states that the medicine is for people, and not for reaping profits. If the people are served, profits come automatically.
• It is unethical to develop the drugs for the people only who can afford them , and not for the people who really need them.
• Pricing the life saving drugs exorbitantly is the violation of the right to health presented in the WHO constitution.
Conclusion
It is not bad for the pharmaceutical companies to think about profits. The problem is not of profits but the problem is of higher pricing that snatches away the right from the poor patients to get a healthy life. They are the losers in the competitive race. An affordable health care program can also provide the pharmaceutical companies with ample profits! And this is where India is leading the example for the entire world.
Discussion
- RE: Should the life saving drugs be exorbitantly priced? -DEEPAK (05/31/14)
- In our society so many people's are below poverty under previledged peoples are there for them it is like a heavy price,they not even the price of the drug in life so they unable to pay cause death of patient.
So for poor underpreviledged and who have not that amount of money to pay the pharmaceutical company should make some generic price so that some people of our society pay easily.
- RE: Should the life saving drugs be exorbitantly priced? -Deepa Kaushik (05/31/14)
- The life-saving drugs are an essential parameter with regard to the treatment across the world. But the price of the same does not actually seem to suit the term “life-saving”. These drugs are focussed towards the rich sect of the society, even though the disease does not restrict themselves according to the economic status of the individual.
The Pharmaceutical companies, who manufacture these drugs, invest a huge amount of money in the research process and getting the approval for the marketing. These companies very obviously place a high profit margin in order to get back the invested amount. Since these are rarely used drugs, these are not on high demand and the companies focus to regain the amount with the few orders that they process.
Though it is justified for businessman to focus on the profit, still there need to be some humanitarian ground attached to it. The greed for money and profit should not be at the expense of a life. It is okay to price to get back the invested amount with some profit ratio attached to it. But, looking at the present price scenario, the price-list definitely calls for an amendment in order to make these life-saving drugs more cost-effective and patient friendly.
