Development of new drugs in the United States
Discuss the development of new drugs in the United States as compared to other countries and evaluate the pharmacoeconomic issues that lead to high prescription costs in the United States.
understudies. Given the expected worth of such figures propelling scholastic achievement and hence impacting results like maintenance, wearing down, and graduation rates, research is justified as it might give understanding into non-mental techniques that could be of possible benefit to this populace (Lamm, 2000) . Part I: INTRODUCTION TO THE STUDY Introduction The country is encountering a basic lack of medical care suppliers, a deficiency that is supposed to increment in the following five years, similarly as the biggest populace in our country's set of experiences arrives at the age when expanded clinical consideration is essential (Pike, 2002). Staffing of emergency clinics, centers, and nursing homes is more basic than any time in recent memory as the enormous quantities of 'people born after WW2's start to understand the requirement for more continuous clinical mediation and long haul care. Interest in turning into a medical caretaker has disappeared as of late, presumably because of the historical bac
Sample Solution
The development of new drugs in the United States is generally seen as more advanced compared to other countries due to its strong financial incentives and legal protections. Uniquely in the US pharmaceutical companies are able to secure patents which grant them a temporary monopoly on their products thus allowing them to charge prices much higher than those found elsewhere (Baker 2020). For example, although generic versions of certain medications can be purchased for much cheaper abroad it’s still often more expensive for Americans to buy these same drugs domestically due this “patent premium”.(Baker 2020)
Furthermore, there has been increasing concern about how high cost of prescription medications impacts accessibility - especially among low-income populations - leading many people unable afford life-saving treatments even if they have health insurance (Kesselheim et al., 2017). This issue highlights one of the major pharmacoeconomic issues that lead rising costs in America: lack of price competition from generics or biosimilars.(Kesselheim et al., 2017) In other countries patent protection laws are not as stringent so generics or biosimilars can be brought into market faster which helps keep overall prices lower( DrugPatentWatch 2019). Additionally, many other nations also employ government programmes such as negotiated pricing agreements with manufacturers and/or discounts given by pharmacies that help reduce medication costs further (DrugPatentWatch 2019).
In conclusion then, while it is true that America does have an advantage when it comes innovation and drug development this benefit may come at expense affordability for patients whose ability purchase medications already hampered by limited resources.