The Cost of Health: Analyzing the 20% Increase in Drug Prices and Its Implications
In recent times, the pharmaceutical industry has been facing a lot of criticism for the steady increase in the prices of drugs. The prices of prescription drugs have been rising consistently, with some medications becoming unaffordable for the average consumer. In 2021, there was a 20% increase in drug prices across the board, causing widespread concern among healthcare professionals and consumers alike. One of the main reasons for the increase in drug prices is the cost of research and development. Pharmaceutical companies invest billions of dollars in the development of new drugs. They have to pay for clinical trials, research studies, and regulatory approval processes. The cost of developing a new drug can run into billions of dollars, and the company has to recoup this investment through the sale of the drug. https://twitter.com/thepakistan2021/status/1652999668924833792?s=20 Another factor contributing to the increase in drug prices is the cost of manufacturing. The productio...