Unfair Drug Prices

 

SERENA LIN Staff Writer

 

Compared to prices of medicine in the past, today’s medical costs are almost impossible to afford. In fact, these tremendous prices are caused by the manufacturers’ simple want for more profit. High prices of some drugs have resulted in many consequences for the people who need them the most. The prices of drugs should not be up to the manufacturers to decide.

Currently, there are no relatively no regulations on the prices of medical drugs that companies demand. These manufacturers are able to set any price they believe is reasonable. Often times, this means that such drugs being marketed are overpriced and unaffordable. For example, according to National Public Radio, the cost of insulin has become unbearable. Insulin is a common medicine used to help those with diabetes. Without it, many Americans with the disease will suffer immensely with fatal results.

Despite such need, the drug’s price has nearly doubled between 2012 and 2014. In fact, this price could already be blamed for the deaths of several victims who were rationing insulin in an attempt to save money. Research also shows that the some companies demanding such high prices do not actually need to make them so expensive. According to the National Public Radio, only 17% of the profit generated is spent on researching and developing better drugs. Instead, these price hikes are actually benefiting the drug makers and insurers. . Drug manufacturers’ greed has already impacted many struggling Americans.