When you go shopping for medication then, you will know that the pricing of prescription drugs is influenced by a plethora of complex and highly interactive factors. And talking to experts from pharmacies in Fort Myers FL, will make you aware that these price changes eventually increase drug manufacturers' profits while also making some drugs keep out of reach of some patients.
However, they can be addressed with the involvement of the government, pharmaceutical companies, healthcare institutions, and other relevant stakeholders. In this post, we will let you know about the different factors which are shaking hands that influence drug affordability.
Introducing a new drug into the market
When brand drugs are first introduced to the market, the manufacturers have complete control over the price. This price establishes the baseline for future drug costs, including generic versions.
Slow market introduction of generics
Once the exclusivity period for sterile compounding pharmacies in Ft expires, generics should be introduced to the market, resulting in a significant price reduction for the medication. If generics are introduced slowly, the price of brand drugs may continue to rise.
Currently, generics fill 90% of prescriptions in the United States. However, the anticipated price drop is only sometimes realized due to a lack of generic competition.
Drug prices are not adequately regulated
Because it cannot regulate drug prices, the United States patent law and healthcare systems differ from most developed countries. It means that the government has no control over the costs of prescription drugs charged by drug manufacturers, and medication pricing in the United States has been described as “what the market will bear.” Furthermore, the patient assistance programs and insurance schemes that should have been negotiating drug prices have failed.
Expensive research and drug development costs
The costs of drug research and development are rising due to genomics and precision medicine. These costs are eventually passed on to patients by drug manufacturers. Furthermore, drug manufacturers are more likely to develop drugs that will generate a high return once introduced to the market. Increased funding for biopharmaceutical research is thus encouraged.
Pharmacies can charge whatever they want
Even within the same town, the same prescription drug can cost hundreds of dollars more or less, depending on where a patient purchases it. Chain pharmacies have the highest prices. Patients who need help knowing where to get their prescription medications are more likely to suffer.
Conclusion
Mentioned above are the core factors by pharmacies in Fort Myers FL, for driving the increased cost of prescription drugs in the U.S. Most of these factors are beyond the control of patients. However, patients can do a few things to ensure they get the best bargains when purchasing their meds.
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