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US vs. International Prescription Drug Prices
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US vs. International Prescription Drug Prices
The United States is an exceptional nation in that it does not regulate or even negotiate
prescription drug prices before they get to the market. Other developed countries such as
Switzerland. Other countries take the initiative of tasking the government agencies to meet with
pharmaceutical companies and decide on the best prices. Such agencies typically decide whether
the new drugs being introduced in the market operate better and improved than the old drugs
(Machado et al., 2011). Also, they determine whether they are even worth being introduced into
the market. Unlike other developed countries, the United States allows its drug makers to set
their prices for the different brands.
There is a huge difference between drug prices experienced by holders of private U.S
insurance and the drug prices paid by United States citizens who are part of the Medicare
program. For instance, for individuals with a higher income, there is the likelihood that one
might be required to pay more for their Medicare drug coverage (Machado et al., 2011). If
someone’s income is above a given limit and filed jointly or by a married couple, you have to
pay an extra plan premium.
Citizens who are part of the Medicare program tend to spend more on the drug than
private insurance. However, having Medicare as a family is more advantageous since it does not
limit the amount of coverage that every member can secure, unlike private insurances, which are
specified on the amount of money one can receive. High prices may negatively impact on the
provider in that more people are unwilling to buy these drugs which force them to go for
alternative products. Thus, providers are likely to incur loses.

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1 US vs. International Prescription Drug Prices Student’s Name Institutional Affiliation Course Number and Name Instructor’s Name Assignment Due Date 2 US vs. International Prescription Drug Prices The United States is an exceptional nation in that it does not regulate or even negotiate prescription drug prices before they get to the market. Other developed countries such as Switzerland. Other countries take the initiative of tasking the government agencies to meet with pharmaceutical companies and decide on the best prices. Such agencies typically decide whether the new drugs being introduced in the market operate better and improved than the old drugs (Machado et al., 2011). Also, they determine whether they are even worth being introduced into the market. Unlike other developed countries, the United States allows its drug makers to set their prices for the different brands. Th ...
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