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Just imagine yourself or a family member were to get very ill and the medication to help cost way more than you or your family could afford. What would you do in this situation? The pharmaceutical industry is the one to blame. Many Americans face this issue of not being able to afford prescriptions that are a necessity. The Pharmaceutical industry should put an end to creating unethical lies that lure in individuals who lack knowledge about what they need and lies about how they develop their pricing. The average American spends at least one thousand two hundred dollars on prescription drugs every month. Many consumers are not educated on how to differentiate what are necessities and what are non-necessities. There are many red lies littered within the large pharmaceutical industry. There are many problems in the industry that lead to lies but lies lead to more problems and causes.
Big Pharma holds many dirty secrets that are so obvious, yet some people don’t realize it. People think that pharmaceutical drugs cost a lot to produce since they make large impacts, but in reality, it can be dirt cheap, down to cents to produce certain drugs. But drug companies know that most people rely on these drugs, so they can alter their pricing, usually making it absurdly higher than it is supposed to be. The thing is companies will do anything to be the only one of their kind in the market. An interview was done by CNBC on January 14, 2019, they interviewed lead author Inmaculada Hernandez, an assistant professor at the University of Pittsburgh School of Pharmacy. He stated, “We found that, in the case of brand-name drugs, rising prices were driven by manufacturers increasing prices of medications that are already in the market rather than [by] the entry of new products.” This means that manufacturers protect their drug by raising prices neither with the excuse of making adjustments nor just changing its name. Manufacturers may say they changed something, but it could literally be the smallest things such as changing the shape of the pills or just switching to different packaging. As you can see, the pharmaceutical industry makes the smallest lies, which have very large effects. Another thing the industry lies about is the way it innovates. Companies will never spread this, but they are allowed 20-year patents to protect their product, which leads to lies of them renaming their drug. People fall victim to buying the same drug for a higher price, even though it’s the same company just using a different name. According to Marianna Mazzucato, director of the UCL Institute for Innovation and Public Purpose, Article “Big Pharma is hurting drug innovation” last updated October 17, 2018, She states, “Part of the problem is how pharmaceuticals use the patent system. Instead of creating new drugs, they extend existing patents beyond the initial 20-year protection set by the United States and use gimmicks, such as overly-wide patents, to block knowledge creation and issue patents for what is essentially the same drug.” Companies will use red lies to benefit themselves, in this case with money. And the most vulnerable and innocent people will fall for these gimmicks, which really hurts the industry in the long run. These lies lead to many more causes, such as a variety of unnecessary pills and a lot of false advertising.
Work Cited
- Blumberg, Y. (2019, January 14). Here’s why many prescription drugs in the US cost so much and it’s not innovation or improvement. Retrieved November 12, 2019, from https://www.cnbc.com/2019/01/10/why-prescription-drugs-in-the-us-cost-so-much.html.
- Mazzucato, M. (2019, April 1). Big Pharma is hurting drug innovation. Retrieved November 12, 2019, from https://www.washingtonpost.com/news/theworldpost/wp/2018/10/17/pharmaceutical/.
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