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Why Are Prescription Drugs So Expensive?



How Are New Medications Developed? http://testu.be/1Pmr4A3
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Americans are paying outrageously high prices for prescription drugs compared to the rest of the world. So what determines the price of drugs?

Learn More:
Martin Shkreli raised his drug's price 5,500 percent because, in America, he can
http://www.vox.com/2015/9/22/9366721/daraprim-price-shkreli-turing
"Daraprim is a small, white tablet that looks a lot like aspirin. "

To Reduce the Cost of Drugs, Look to Europe
http://www.nytimes.com/2015/10/20/upshot/to-reduce-the-cost-of-drugs-look-to-europe.html?_r=0
"When anyone proposes reducing prescription drug prices - as Hillary Rodham Clinton and Bernie Sanders recently have - the most commonly heard criticism is that it would squelch innovation."

FDA: Frequently Asked Questions on Patents and Exclusivity
http://www.fda.gov/Drugs/DevelopmentApprovalProcess/ucm079031.htm
"Patents and exclusivity work in a similar fashion but are distinctly different from one another."

Music Track Courtesy of APM Music: "Evolving Elements"

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Автор Nicholas McNamara ( назад)
if your a dual citizen living in the united states get your drugs from home i have a friend who gets his doctor in Australia to prescribe what the yank doctor writes on a piece of paper his mother mails them to him with a copy of the prescription he saves big on meds

Автор Christian zember ( назад)
Here's a quick econ lesson on high drug prices:

First off I want to note that the US spends more per capita than any country in the world on healthcare (from the taxpayer pool). So under-taxation, and underfunding from government is not the issue.

Secondly, private healthcare expenditures in America are FAR higher than any other country.

So why are drugs so expensive?
Pharmaceutical companies are businesses, and they set their prices, not set on greed, but on demand. The level of demand in the market, driven by willingness to pay, sets the prices for drugs. Companies cannot just set a super high price and succeed, they set the price directly to the market demand (note that demand, a term that is misleading to those unfamiliar with econ, is derived from the quantity being actively purchased. commonly falsely thought of as a prediction derived from forecasted market conditions). In other words, if in January 100 people purchased epipen and payed $100 dollars for it, brining comfortable profit, the price in February will rise knowing that there was untapped market share in January.
Here is how this concept come to play in the prescription drug scenario, and the cause of high prices

When President Obama enacted the Affordable Care Act, he made it mandatory by law for citizens to have health insurance. This means that insurance companies had guaranteed customers. With guaranteed insurance holders, came guaranteed demand and ability to pay for pharmaceutical companies. In other words, the federal government created "demand" that was not driven by willingness to pay, or real market forces that set appropriate prices. Insurance companies can only afford to provide a level of service in which they can afford, so with a huge pool of people forced to buy their service, some new policy holders cannot afford high-quality coverage, so of course, the quality of insurance fell to match what was being purchased.

When drug manufacturers raised the price of goods to meet new, unchecked, never-ending demand in the market, and insurance was providing sub-par coverage for the purchase of drugs (also in accordance to the artificial forced demand fro the gov mandate) prices soared, and the individual felt the burden left over from the insurers non-ability, and non-motivation to fully pay for the drugs.
And just do be extra clear, the burden taken on by consumers is the difference between the actual demand which is decided by private individuals, and the artificial demand created by the Affordable Care Act.

Privatized medicine and insurance creates competition, and keeps price in line with American's ability and willingness to pay; which of course, brings prices down significantly.

ACA was the biggest disaster quite possibly in all of American History.

Автор sebastian cuello ( назад)
Skip to 2:35 to get the video's answer.

Автор Dizzy Davis ( назад)
Cost $6 here in Australia if you're a low income, student or pensioner. Yet Americans act like any form of socialism is evil.....

Автор Captcha C ( назад)
The United States is ridiculous! If you would learn from other countries and stop being so greedy, people wouldn't be so broke they end up on Welfare. Also, you should never be allowed to raise prices against elderly people. The government needs to step in and refuse to allow people to charge excess like 5000% up charges.

Автор John Costello ( назад)
like everything else, we get fucked due to a government that doesnt care about you. keep voting assholes.

Автор Ahhh Fuck It I Can't think of a good name ( назад)
Drug prices are unreasonable, why shoul i have to pay $201 for 30 of my 100mg zoloft prescription for my depression i probably would have killed myself already without that stuff

Автор Liam Abc ( назад)
There not that expensive.... most are free In the UK

Автор steppenwolf ( назад)
really? people actually have to ask this? i can sum it up in one sentence: so the drug companies can make the most money off of you. THAT'S IT! end of list.

Автор Ossie ( назад)
wow this bitch is dumb, shes just reading something someone else wrote for her, martin skreli is a hero

Автор popoxee ( назад)
Not only the drug price is crazy, the hospital fee is unbearable for normal individuals and families. Two or three night of stays will cost you your whole year salary. US medical system is the most fucked-up in the world as I know.

Автор biscoito1r ( назад)
Just buy it online fro India, this is what I did.

Автор john doe ( назад)
America fucking sucks

Автор Osiris Malkovich (650 лет назад)
Almost a 4 minute video. How long does it take to say "greed?"

Автор Alex Minor ( назад)
Silly Commies brains are for humans

Автор Frank08046 ( назад)
The reason they are so high. Our politicians have sold us out, yet again.

Автор MrFuthisshit ( назад)
I was so shocked when i learned how much the pill costs in the usa ( when i was on it i used to buy it for about 4$ a pack, the most expensive ones are about 10$ )

Автор John Benton ( назад)
All prescriptions in UK cost £6.45 per item, unless you're one of the 40% who get them FOC. But thats where 'socialised' healthcare gets you.

Автор Hardeep SIngh ( назад)
Its FDA's fault you communist. It cost companies average of 10years and millions of dollars to approve a drug. SO LIKE EUROPE GOVERNMENT SHOULD SET THE PRICE? ARE YOU COMMUNIST? It is already expensive because for government managing and you think it will be cheaper if if they intervene more? You lefties are unbelieveable.

Автор Asjad Hasan ( назад)
So everything just comes down to *capitalism*?

Автор Young Squirrel ( назад)
how powerful is my moms cooking ;)

Автор promontorium ( назад)
This biased bullshit report proposes government forced price fixing like in Europe, and glosses over the fact that the whole reason drug companies have to charge so much is because the government makes it so expensive and difficult to get FDA approval in the first place. Lots of American companies just take their products overseas and sell them to Europeans and dodge the FDA altogether.

These same companies charging low rates in Europe, this dumb bitch is accusing of intentionally charging high rates in America and "needing" (further) government intrusion to lower prices. Listen morons, if the company is willing to sell overseas cheap, why wouldn't they be willing to do it here? It's not about want. it's about force. Government forces them to raise prices. More government isn't the answer. If you want cheaper prices like Europe, change the FDA to not make it so expensive.

Автор Tom Murse ( назад)
72% of Americans believe drug prices are unreasonable. Guess we 72% need to raise 4 billion dollars to beat out a few corporations in order for us to be heard up on capitol hill. Oh, wait. I forgot. Those corporations will just make sure to beat our bid by at least 1 billion...NVM.

Автор Joel Reid ( назад)
Corruption of government that puts people's loves in danger... usually that is an excuse to overthrow the government. How do American's put up with that?

Автор mosqaliuc ( назад)
legalize cannabis world wide!!

Автор BEYatrice ( назад)
Short Answer= Greed.

Автор Zeowl Owlite ( назад)
in other country lobbying = bribery

Автор Catzkhan ( назад)
Because the US is shit. I have to take a drug that is around 500 dollars a month, I don't pay a single cent cause my glorious third world Colombian government pays for it.

Автор postmortemarg ( назад)
*Because big pharma has a monopoly in the drug industry. Overcharging poor sick people in a still unstable economy is the same as sentencing them to stay sick or die. In the mean time, CANNABIS which can replace many of these drugs, is still legal and demonized.* It wouldn't surprise me to find out that they are lobbying against cannabis cause it threatens their gold mine.

Автор jacob severiano ( назад)
Americans need to stop calling giving money to politicians lobbying and call it what it is bribing at its worse.

Автор Alexandre Teotónio Pereira Stuve ( назад)
Cause you ain't got no socialism

Автор KTG ( назад)
This is what dumbass Republicans want. 100% unregulated free market pricing. No wonder the majority of states on welfare are red states.

Автор Cre Mist ( назад)
Do a video on Antarctica's violations of international law.

Автор Joshua Williams ( назад)
Perfect example of immoral corporatism. Not Capitalism.

Автор Chuck Taylor ( назад)
Marijuana heals many ailments these drugs don't. So many different strains to help, also some with very little amounts of THC.

Автор Daniel harvey The chocolate kyle kulinski ( назад)
profits over people! !

Автор fl00fydragon ( назад)
drugs should be considered as an extention of the right of human life
therefore pricegouging should be considered a crime against humanity

Автор majed-7117- ( назад)
How powerful is me?

Автор Lip Jing Ng ( назад)
because price inelasticity

Автор cambellenious korsakoff ( назад)
Its disgustin how the U.S treats it citizens. Health care should be free, it's one of the only reasons I agree with taxes in the UK.

Автор Ian Moone ( назад)
How powerful are the citizens

Автор lifefource ( назад)
Crazy, cruel system. The only ways to change it are protests, electing different politicians, and Bernie Sanders.

Автор armlovesmetal ( назад)
But the R and D of any drug here in the USA is paid by tax payer money.

Автор jasonc_tutorials ( назад)
Alexander Schlugin did it as a hobby. Not for monetary. There is probably a cure for everything, except nobody knows because of zero marketing and it's probably a kept secret.

Автор Heather Miles ( назад)
They should get something like The NHS in the US it would help poor people afford medical care and drugs!!

Автор blackjin21 ( назад)
Simpsons did a episode on this 4 years ago

Автор Bo Bi ( назад)
#TheBestCountryInTheWorld –.– 😒😒😒😒

Автор Siddhartha Sahu ( назад)
Who are the Eskimos?

Автор chadmaraj ( назад)
process involved for large scale manufacturing aswell is why Costs are so high...

Автор Suna ( назад)
Only in the fucking U.S. Here's to show that Capitalims is not a good system... palm in face... greedy people getting richer, it's outrageous

Автор Spera TV ( назад)
Julia?
1^1?

Автор Inkswitch ( назад)
"America is the only developed nation that lets pharmacutical companies behave this way." - go figure

Автор zukodude487987 ( назад)
So the solution for spending less on drugs is to go vegan.

Автор JMan ( назад)
Bernie 2016

Автор leeofthevoid ( назад)
never heard of expensive prescriptions, much be an American thing. unless i'm simply not fucked up enough to know >.<

Автор Uno G ( назад)
I don't think they are expensive at all $4.50 per prescription and $1.50 for a chemo therapy treatment. But then again I live in Australia.

Автор Nature Now ( назад)
"Capitalism is so bad! Look at this asshole that hiked the price up!"

Oh wait, he lowered the price after awhile and he had a monopoly? Hmm..

Автор sid ( назад)
who cares! atleast US has freedom

Автор Lion Kiss ( назад)
I don't care because ain't go to hospital but good for American people who believe in nasty doctor

Автор Graham6762 ( назад)
Cui Bono from 9/11?

Автор yakuza4 ( назад)
Why do I care about this, medication and healthcare is basically 'free' in the UK compared to the USA.

Автор apburner1 ( назад)
The obvious was left out. Prices in the US are higher to make up for the freeloaders that have socialist governments setting the price not based on actual costs.

Автор Dragon Ball Super Is NOT Canon ( назад)
1

Автор Truth118 ( назад)
How powerful is good weed?

Автор SouthernMuscle ( назад)
The REAL reason drugs are so expensive in the U.S. and not other countries is because the U.S. forks over the research money to develope and research these drugs. Then, the rest of the world rips off the drug ingredients and manufactures it without any risk.

Автор Jared Brooks ( назад)
Please make a video about the Chagossians!

Автор Ken McAllister ( назад)
Get money out of politics and we'll see the price for all kinds things go way down.

Автор CatSauceForThePeople ( назад)
Because profit for the rich is worth more than poor peoples lives.
Because capitalism is evil.

Автор Ralph Wiggum ( назад)
Woo! Ireland!

Автор Hans Landa ( назад)
Real reason? Because capitalism has created a society where money is more important than human lives. Money over all, the Amerian creed.

Автор SpazzyMcGee1337 ( назад)
Is the lack of drug price regulation for making the development of new drugs more profitable? Americans have to spend more but America and the world ends up benefiting from a higher development rate for new drugs.

Автор Mclauritsen ( назад)
America is great for buisness. Not very good for people mind you, but great for buisness!

Автор Seth Caplan ( назад)
oddly enough drug patents must be patented during development, typically several years before they can be brought to market. That additional expense and risk also factors into high drug prices.

Автор CrimsonFury006 ( назад)
Kevin Trudeau was right all along about drug companies. There in it for the money, not to help patients. If the opposite was true, all the drug companies would be bankrupt now. Not to mention, these drugs create very bad side effects, in which one would need another drug to counteract that, and another drug to counter act that, etc. It is insanity! No wonder why I find natural ways to treat my aliments. Want to learn more? Read " Natural Cures 'They' Don't Want You to Know About". Great read!

Автор Quagthistle ( назад)
The free market at work! Behold the greed destroying our nation.

Автор xDarkcynx ( назад)
this video is bullshit. the same drug in india that i take costs them about $3 where as it cost me $140 in australia

Автор Ricky Hyde ( назад)
So backwards...

Автор Aguila701 ( назад)
Republicans disagree with this video.

Автор Aguila701 (122 года назад)
If only people knew what money really is.

Автор Stephen Bruner (1054 года назад)
I quit smoking and drinking over 20 years ago, my health is very good. So far I have NO need for Big Pharma's overpriced products. Our govt. protects their greed.

Автор AKFAN FORTYSEVEN (1123 года назад)
You forgot to mention the shareholders. The number one order of business is to make the shareholders happy. And to do that, they get the lions share of quarterly profits.

Автор Humvee201 ( назад)
Ahh, Free Health Care....I want to move to Canada

Автор Kyle D ( назад)
dear people of youtube,

there is a way to retaliate against drug companies. the answer is TAKE CARE OF YOURSELF. eat healthy food. get your proper nutrition. exercise. drink water. get enough sleep. simple shit. do all this and i guarantee most of you will never need to set foot in a pharmacy again

sincerely,
someone who actually cares

Автор Iznikroc ( назад)
It has more to do with European governments being able to negotiate prices while medicare is unable to on top the bevvy of middle men who raised the cost of drugs and distance the consumer and in some cases doctors from seeing an actual price.

Автор Mobjective ms ( назад)
Most of the drugs in the US r imported from countries like India...if a specific drug costs $10 in India then the drug will cost around $500 in the US....hence US pharmaceutical companies r making huge profits....these companies don't think bout the lives of poor people who can't afford such high prices.....since in the US capitalism is more important then humanity so nobody gives a shit....

Автор Sean Pannella ( назад)
Your welcome non-US viewers. US citizen pay for the R&D for the drugs that you get pay a fraction of the cost for. But if US buyers didn't pay as much many drugs wouldn't be able to afford to be developed and many of the drugs would not be as rigorously tested. So bad mouth US but next time you take your meds just think if you had to pay for the R&D that went into that pill.

Автор Quuton (1691 год назад)
Hehe, good im european (german) :))

Автор Mahatma Gandhi (1742 года назад)
Where are my world leader bros at?

Автор Sasha Whitefur ( назад)
In war, that is called profiteering, which is a treasonable offense.

Автор OLISIS ( назад)
I am so glad us Americans let corporations control our government!

Автор Samsul Hoque ( назад)
How powerful is Kylo Ren?

Автор Luis Rodriguez ( назад)
do a video on the modern day segregation of American cities

Автор VB Ed ( назад)
Prescription Drugs are a rort. They should be given to the people that need them free of charge because the big drug companies don't pay for the research. All the funds for research are donated to them via the charities of the World. All disease has a charity setup in every country to raise money for research and to find cures. These medical research charities don't employ scientists themselves. They funnel hundreds of millions of dollars that they raise from the people straight to the big drug companies. Its a rort. Its totally outrageous. The research to find new treatment drugs has already been paid for by the people of the world. The shareholders of the drug companies are laughing all the way to the bank.

Автор Justin justintheman ( назад)
this answer my question

Автор Bobby Garrity ( назад)
Why are Steam games so cheap? Just how powerful is Gaben?

Автор avtar singh ( назад)
How powerful is Air Force One?

Автор Shaif Uddin (453 года назад)
as rem once said,"humans truly are disgusting creatures"

Автор Shehri Jatt (866 лет назад)
Why are the worst trolls on Test Tube Pakistani?

Автор White People Seasoning ( назад)
Who is el chapo?

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