High Cost of Medications

Paper Summary:

The cost of medications today has sky-rocked, leading to major debates across the country, as well as extreme criticism of the pharmaceutical companies among consumers, physicians, and lawmakers. This research paper discusses the high cost of medications. Some of the issues discussed in the paper are the the impact on the health care system, difficulty maintaining proper dosages, avoidance of medical care, government and insurance involvement and the long term consequences.

From the Paper:

"Another battle involving the high cost of medications is brand names versus generic brands. In the year 2000, the annual sales for the anti-depressant Prozac was $1.5 billion. When the drug's patent expired in 2001, a generic version hit the market at half the price, sending a drop in Prozac sales of 23 percent. During the next few years, several other popular medications will lose their patent, thus, helping many that are now forced to take the brand named medications. Experts are also expecting this to lead to a slow down in the growth in spending on prescription drugs, "an amount that doubled between 1995 and 2000 and is expected to double again over the next several years.""

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