There has been a lot of recent news highlighting the ethical dilemma associated with big pharmaceutical companies. The recent big scandal included the epi-pen price hike which left thousands of Americans not able to afford a medication needed in a critical situation. Do big pharmaceutical companies have the right to capitalize on life-saving drugs? This is one of the biggest questions we face in the healthcare system today.
We have to keep in mind that pharmaceutical companies are big corporations that are out to make a profit, but at what price? We understand that in order to create new potentially life-saving drugs, money, time and resources have to be put into the process of drug discovery. When a new drug comes out on a patent the drug companies are able to profit from this drug for years. They are able to control the market, set prices, and negotiate with wholesalers. This can prevent patients from getting the access with a hefty price.
This type of monopoly of drug prices can be controlled. Having universal healthcare controlled by legislation can negotiate fair prices for drugs and set caps on the pharmaceutical companies. European countries have had this model to control drug prices for years. Universal healthcare provides the access to health care providers, drugs, and services to those who previously did not have access. Universal healthcare can be the solution to fair and equal access for all Americans while controlling the drug market.
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