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Essential Need for Regulatory Enforcement on Pharmaceutical Products’ Prices Pharmaceutical drugs are one of the major health care services that a normal human being requires. They use extensive technology to discover, develop, produce as well as market these drugs. Pharmacists determine the amounts to be used for various conditions as well as the duration that one is supposed to use them. Rehabilitative are used to assist people with addictive conditions stop them while palliative are used for terminal illnesses and diseases. The prices frequently increase after they are already in the market hence by far exceeding the rate of inflation. We have known pharmaceutical products to be expensive. Evidently, the federal governments fund this process but the pharmaceutical companies pocket out a lot of money too. When the test process goes through, these companies pump time and money once more to license and jump the regulatory hurdles in the Pharmaceutical industry. Marketing these drugs is also not a walk in the park hence these adds up to the increasing prices of drugs on an everyday basis. With all these processes involved, it is not surprising that these companies want to charge a high price for specific drugs.
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Determining the price of a new drug involves both science and art. The haves and have-nots are again divided by this. This results to a high number of prescriptions written as well as a high cost of drugs prescribed. The commoners demand and require that the price of health care services be affordable to enable save lives.
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These treatments go a long way in treating strong medical conditions affecting people of all walks of life for example cancers. An estimated overall cost for developing a new drug is roughly $2.6 billion. These two prices differ since the processes in the middle must be paid for whereby the final consumer is the one who pays . Whether the insurer is private or public, he or she either pays; the pharmacist directly, the manufacturer or an intermediary depending on the type of drug. After the specific drugs get to the ultimate consumer, the reimbursements are then made by the insurer. This is however not the case with pharmaceutical products as a customer is rarely involved in the decision making process. The decision on pricing ,quantity too be administered is solely vested on the physicists. Residents need a fair dealing when it comes to medical and pharmaceutical services. It is therefore important for the bodies with the role of regulating these prices to assist so as to favor everyone. The government bodies should also reduce the tax regulations for shipping in pharmaceutical products into countries. The pharmacists and physicists mainly increase charges because it is quite a free market. It is evident that by controlling the prices, more patients will be able to save money as well as afford quality health care services.