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How have past healthcare crises shaped Big Pharma's role in drug pricing and access, and what barriers remain to equitable access?

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How have past healthcare crises shaped Big Pharma's role in drug pricing and access, and what barriers remain to equitable access?

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What factors contribute to drug shortages in the US, and how do regulations and market structures influence these shortages?

“Drug Shortages, Pricing, and Regulatory Activity.” Measuring and Modeling Health Care Costs, 1st ed., University of Chicago Press, https://doi.org/10.7208/chicago/9780226530994.003.0011.

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Why is the cost of prescription medications in the United States so high?

Quigley, Fran. “The United States Has a Drug Problem.” Prescription for the People, Cornell University Press, 2017, pp. 13–18, https://doi.org/10.1515/9781501713910-004.

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How do the economic structures and political decisions governing drug pricing influence the perceived and actual value of a cure ?

Roy, Victor. “Introduction: The Politics of Drug Pricing and the Value of a Cure.” Capitalizing a Cure, 1st ed., University of California Press, 2023, pp. 1–22, https://doi.org/10.1525/9780520388727-003.

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The competitive nature of the generic drug market leads to low-profit margins, discouraging manufacturers from maintaining adequate supplies.

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Increased inspections and quality standards by the FDA can disrupt the supply of medicines.

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The absence of price regulation in the US allows pharmaceutical companies to set high prices, which are often subsidized by government healthcare programs and private healthcare systems.

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Pharmaceutical corporations hold significant monopoly pricing power due to patents, leading to extremely high prices for essential medicines

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The high costs lead to medical debt, unaffordability of prescribed medications, and medicine shortages, which have severe health consequences and financial burdens on patients and the healthcare system

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The pharmaceutical industry prioritizes financial gain over public health needs

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This prioritization of monetary gain has lead to a crisis in access to medicine and restricts future breakthroughs in medicine.

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While regulatory activity contributes to shortages, it is not the sole factor. Broader economic conditions outside the drug market, such as manufacturing costs or distribution issues, also play significant roles in shortages.

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Pharmaceutical companies might argue that high prices are necessary to cover the high costs of research and incentivize the development of new medicines.

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The "value pricing" strategy sets high prices for treatments in high- and middle-income countries based on the expectation that health systems will pay more for better treatments.

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Value-based pricing strategies, reflect the true value of the treatments to patients and healthcare systems, justifying the higher prices.