To Cut Drug Prices, Academy of Sciences Tells the Government to Negotiate with Manufacturers
In “To Cut Drug Prices, Academy of Sciences Tells the Government to Negotiate with Manufacturers” by Robert Pear, the audience (those interested in health care) learns about the idea of cutting drug prices to make life-saving drugs more affordable to everyone who needs them. It then talks about politics, blah blah blah, and then brings about the idea of expensive prescriptions giving out coupons even though there is a much less expensive prescription available (which no one knows about.)
New York Times is known to be a little liberal, but I think that this article has no bias to it. It is mostly informative to the reader about how the drug companies are making tons of money when there are other options.
An interesting question posed by this article is why are there cheaper drugs made but not sold? I found this quite perplexing. I think that drug companies are making tons of money making drugs that can be sold for cheaper. According to Money, there are 5 reasons why drugs are so expensive. 1) The manufacturers set their own prices. 2) The FDA takes a long time to approve generic drugs. 3) Sometimes federal policies limit ability to keep costs down. 4)Government protected monopolies prevent generics coming to the market to reduce prices. 5) Drug prices aren’t really justified by R&D.
Secondary Source: http://time.com/money/4462919/prescription-drug-prices-too-high/