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The prescription drug industry is an ever-evolving entity. Despite consistent attempts at reform, many are still unhappy with the way the pharmaceutical industry functions. However, regardless of the disagreements with the industry, it is projected that hundreds of billions of dollars will be spent on prescription drugs throughout 2011.
New drugs are introduced seemingly on a daily basis, neutralizing anything from nagging skin rashes to cholesterol. Fortunately, with such drastic growth, employment for pharmacists has never been better. However, with an industry so large, difficulties with control arise. The most pressing issue surrounding the current attempts on drug reform is the aspect of private drug ownership.
Private prescription drug ownership refers to the initial ownership of a particular drug by the company that created it. Right off the bat, this concept may not seem like such a big deal; perhaps it even seems logical. However, there have been many instances where a prescription drug has been vastly over-priced due to the desperate demand of consumers.
An example surrounding the problem associated with private drug ownership can be seen with anti-retrovirals. Anti-retrovirals are a class of drug that combats the HIV virus. When these drugs were first developed, the company responsible for creating them decided to take advantage of the desperation of the patients that would need them. As a result, prices ranged anywhere from $1,400 per month up to nearly $5,000 for late stage patients. Over the course of the treatment, a patient could expect to spend over $700,000.
Many people are calling for a reform in which newly developed drugs come under ownership of a single entity that prices them fairly to help combat this ongoing issue.
