Updated: Aug 3, 2020
The high prices of the prescription drugs have always been an issue in the political agenda, and it continues to be to the present day. It has always been a stronghold in the Democrat agenda, but this last couple of years, it has become part of Trump’s to-do list.
The truth is that, neither the Democrats nor the GOP have been able to find a viable solution about the constant increase in the price of prescription drugs. They both know this topic is one of the biggest concern among the American people, but they haven’t been able to agree in a solution to it. In the USA, the drug making companies are free to establish the price they consider correct, en by law, the insurance companies are not allow to bargain those prices.
This past few months, both parties passed bills that are working hard to bring down the prices. The Democrat party has introduced a group of bills that aim to lower the prices by tying the prices of drugs in the US to the median price across five developed countries and that will allow Medicare to negotiate the prices with the pharma companies.
On the other hand, the Republican Party has introduced two bills. One of them will allow the importation of drugs from Canada. Both parties have done their job, but still with little result in the everyday life. The reduction of the price has become and issues of discussion between politicians but it’s the people who is still paying the high prices.
There are many factor that contribute to keep raising the prices. Specially, the lack of limits on the companies, who have full liberty to set the prices. Innovation and advance is often the reason used for the increasing. But truth be told, most of the time, in latest research, the “innovation” factor is too small to justify the increased that we see annually.
Sadly, we keep seeing the companies often forget they are more than a business, and that the products they manufacture is not a luxury, but a need, and sometime, even a matter of life or death.