Why Is Prescription Medication Is So Expensive

I hear every day about how expensive prescriptions are and I know it firsthand. In order to get my head around it, I look at the bigger picture to understand the cost justification. First, we have to remember that Pharmaceutical companies are not charities. They are like any other company providing a service, a very critical one. That knowledge will not make the price sting less but you’ll understand why.

There is a difference between expensive and gouging. The CEO last year took a drug that had already been on the market and raised the price by 1000%. That’s gouging.

Photo by Pietro Jeng on Pexels.com

What It Takes To Bring Product to market

It can take 20 years to develop a drug, sometimes more. That cost money. Once the formula is agreed on they have to do three clinical trials before submitting it to the FDA. These steps can take years and more cost. Once approved by the FDA they have to manufacture the product and design packaging.

Now the product is on the market they have to recoup all their cost spent to get it there. Each Brand name drug is given a certain amount of time where generics won’t be available. This is where they make their money, in those first years, some have gone 20 years without a generic. I don’t understand how the government manages this process.

The good news is many Pharmaceutical companies do have Savings-Programs that can get your co-pay way down or maybe nothing. Be sure to check that. Also, ask your pharmacy if they searched for any coupons. I doubt a big pharmacy will have time to do it.

I’m currently taking a drug that cost $7500 dollars a month. I’m blessed to have insurance pay 100% but that may reset after Jan.1st. For now, it’s great but after the first of the year, it may have a co-pay and a large one at that. It is only one of two drugs for this condition and both are new. I understand why a neurological drug is expensive. Do I like it, NO but That’s for me to deal with? As we get closer to the end of the year I will see if they have a Savings-Plan.

We can not let our government step in and make Pharmaceutical companies cap the cost of their drugs. We don’t do this to any other business and I’m not rooting for a Socialist society.

For those pushing for Social Healthcare, remember this, you’re going to give up a big chunk of your earnings to pay for it. Only now you have no voice in who your doctor is, it can take months to get an appointment even for a General doctor. Even getting treated in some hospitals is a nightmare that never ends.


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