Drug pricing has become one of the most pressing issues in recent years both in the US and outside of it. The public has been urging the government to establish regulations that cap the prices of certain essential drugs. On the other hand, drug companies resist the changes, citing possible losses in profits and consequently decreased funding for research and development of new medicine. Thus, any significant reforms are stalled, and there seems to be no new traction to resolve the issue. However, these changes are crucial for public health and most likely will not cause the level of harm that companies claim. The drug price control will first provide positive public health outcomes. A disproportionate number of people are unable to afford life-saving medication. It is clear that a few dollars should not decide the individual’s longevity of life or significant gap in its quality. Thus, the pharmacists and the public should join in pressuring the government for the new regulations, as it will benefit both groups.
Furthermore, the evidence showed that the companies already are doing that based on the high prices and profits margins. The argument about research and development (R&D) from these corporations is questionable. Firstly, most drugs are acquired by purchasing patents or adding minor changes to the formula, which do not yield significant improvements. Secondly, they are left with a significant amount of cash surplus after the investments, ranking below some retail and manufacturing industries in their contribution to R&D. In other words, governments can operate this significant gap to reduce prices.
Pharmacists can use this knowledge to pressure the governments into action alongside the public. The sudden increases in prices hurt the pharmacies, putting them at risk of bankruptcy, as they lose millions. The reason for that is the delays between the changes in the prices in the databases for prescription drugs. Meanwhile, the pharmacies are paid based on the past prices. Moreover, there is no adequate system for reimbursing this difference. Therefore, with these things and public health and safety in mind, pharmacists can be a crucial force for raising awareness of the issue and fighting for change.