Are Astonishing Prices for Life-Saving Drugs Ethical?
A Case for Surging Drug Prices
“Do you think Big Pharma’s pricing policies are morally justifiable?”
Maybe it is justifiable.
It is difficult, but perhaps it is justifiable.
Let me explain.
Drug companies are companies.
People often think of healthcare as some altruistic industry where a bunch of geniuses gather and work to rid the world of diseases.
The healthcare industry, including drug companies, attracts talents that they do because it’s a great money-making machine.
Just like Apple Inc., Pfizer Inc. answers to their shareholders and pays for top talents.
However, let’s assume they don’t have to answer to anyone. Let’s assume they don’t have to make money.
To keep the lights on, they would have to at least break even.
Pfizer’s cost of R&D per new drug was calculated to be almost $8 billion in 2013.
They need to make at least that to stay operational and continue to save lives.
Do they make more than that per drug? Yes.
Do payers like that? No.
Is it justifiable? Maybe.
About the Author
Roger Ma is a consultant pharmacist stationed in the exciting city of Toronto. By focusing on the management of complex medication therapies, he enables burdened patients to live a life full of freedom and empowerment. He is reachable through Clinalleve all day, everyday!
Originally published at www.quora.com.
