I hear every day about how expensive prescriptions are and I know it firsthand. In order to get my head around it, I look at the bigger picture to understand the cost justification. First, we have to remember that Pharmaceutical companies are not charities. They are like any other company providing a service, a very critical one. That knowledge will not make the price sting less but you’ll understand why.
There is a difference between expensive and gouging. The CEO last year took a drug that had already been on the market and raised the price by 1000%. That’s gouging.
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What It Takes To Bring Product to market
It can take 20 years to develop a drug, sometimes more. That cost money. Once the formula is agreed on they have to do three clinical trials before submitting it to the FDA. These steps can…
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