Why should we defend pharmaceutical companies in relation to drug prices?

Question

I want to know who is to blame for drug pricing, because I feel like the regulatory body is hiding something. Do the pharmaceutical companies deserve all the blame. Can you give me a few reasons why we should not put blame on Pharmaceutical companies for medicine prices being high.

Answer 1

I believe whether we defend pharmaceutical companies depends on our morals and values. Many companies try to keep costs low through their policies and insurance plans, so it’s not fair to say they are the only reason for high drug prices. The real problem comes from several things. One big issue is who is allowed to make and sell medicines—only trained experts or anyone? Another is the amount of money people put into these companies and how much medicine is available. When only a few investors control a small amount of certain medicines, the prices can become very high. Also, how much the government spends on approving new medicines and medical practices affects prices. Many times, universities help develop new medicines because they’re trying to find ways to improve health and help people, often working with the government and scientists to do so. So, no, pharmaceutical companies are not the only ones to blame; many factors influence drug prices.