Description
Research question: Should the US government put price controls on pharmaceuticals? Explain, using
other nations’ successes or failures controlling drug prices.
Explanation & Answer
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Should the Government of the United States Government Control Prices of Drugs?
Pharmaceutical drugs' price inconsistency impacts the medical supplies' use, commercial
influence in the United States pharmaceutical industry, and the general public. Drugs in the
United States are significantly more expensive than those in other industrialized countries.
Decreasing the cost of medications to consumer-friendly and easily affordable prices should
remain the government's top priority in medical reform. Pharmaceutical companies, insurance
companies, and pharmacy stores all set their pricing as the pharmaceuticals go through the
distribution chain, resulting in ambiguity and a lack of dynamic price regulation. Considering the
success of price control in medications in other countries such as France, the United States
government should impose price controls on pharmaceuticals to promote fair competition among
distributors, access by consumers, and ease the distribution of drugs. However, it may not
guarantee acceptable pricing for patients.
The governments should control drug pricing by promoting competition, making the
pharmaceutical companies, insurance, and pharmacies adjust their prices according to consumer
demand. According to the Competition ...