Drug pricing




In many jurisdictions drug prices are regulated.

United Kingdomedit

In the UK, the Pharmaceutical Price Regulation Scheme is intended to ensure that the National Health Service is able to purchase drugs at reasonable prices. The prices are negotiated between the Department of Health, acting with the authority of Northern Ireland and the UK Government, and the representatives of the Pharmaceutical industry brands, the Association of the British Pharmaceutical Industry (ABPI). For 2017 this payment percentage set by the PPRS will be 4,75%.

Canadaedit

In Canada, the Patented Medicine Prices Review Board examines drug pricing and determines if a price is excessive or not. In these circumstances, drug manufacturers must submit a proposed price to the appropriate regulatory agency. Furthermore, "the International Therapeutic Class Comparison Test is responsible for comparing the National Average Transaction Price of the patented drug product under review" different countries that the prices are being compared to are the following: France, Germany, Italy, Sweden, Switzerland, the United Kingdom, and the United States

Braziledit

In Brazil, the prices are regulated through a legislation under the name of Medicamento Genérico (generic drugs) since 1999.

Indiaedit

In India, drug prices are regulated by the National Pharmaceutical Pricing Authority.

United Statesedit

In the United States, drug costs are unregulated, but instead are the result of negotiations between drug companies and insurance companies.

High prices have been attributed to monopolies given to manufacturers by the government and a lack of ability for organizations to negotiate prices. New drug development costs continue to rise as well. Despite the enormous advances in science and technology, the number of new blockbuster drugs approved per billion dollars spent has halved every 9 years since 1950.

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