The problem with prescription drug prices
Published 9:21 am Friday, November 7, 2014
Recently, I had a long talk with my pharmacist about imported over-the-counter and generic prescription drugs, most notably the drugs that are imported from India. India exports $15 billion a year in pharmaceutical products worldwide and Americans now receive more than 40 percent of their over-the-counter medications and generic drugs from there. According to a February 2014 New York Times article, drug manufacturers in India are now being closely monitored by American inspectors for safety lapses, falsified drug test results, unsanitary conditions and selling fake medicine. According to a recent report from the World Health Organization, one in five of the drugs manufactured in India are fakes. Even if it is cheaper to import these generic drugs, the question we should asking ourselves as a nation is whether or not it is okay to put our health — and in some cases — our lives at risk for cheaper prescription drugs?
My pharmacist said that many of the counterfeit and bad-batch prescription drugs (drugs that don’t have the appropriate amount of active ingredient) are mixed in with regular pills. So you may take a pill one day and it may have 100 percent of the active ingredient and take another the next day and it may only have 10 percent of the active ingredient — both coming from the same bottle. Even though the Food and Drug Administration monitors the importation of these drugs and tests random samples for potency, the fact is they just can’t check them all. The FDA has also been proactive in inspecting these pharmaceutical plants in India and other nations, such as China, and has already handed out large fines.
Last year, Ranbaxy, one of India’s largest drug manufacturers, pleaded guilty to felony charges and was given $500 million in fines. But the FDA can only check so many plants and the fact is we are at the mercy of the profit margins of these manufacturers in foreign countries. We want to keep our prescription costs down so we are forced to take our chances.
But the big question is why are drugs are so expensive in America?
The pharmaceutical companies claim that it is because of development and marketing, but that doesn’t always appear to be the case. In fact, when there is a competing drug on the market it usually drives the price down. For instance, my diabetes drug costs me about 50 cents a month because the manufacturer wants to ensure I don’t turn to another product. Meanwhile, a cancer drug that deals with breast cancer and has no real competition costs $8,000 a month and they know people are desperate enough to pay it. The reason drugs are so expensive in America is because they can charge any price they want — it’s capitalism at its finest. It’s the exploitation of the sick of dying.
Like most Americans, I am forced to buy generic prescription drugs. The fact is I just don’t have the money to buy name-brand drugs and I am under no illusion that American pharmaceutical companies are going to lower their prices. This is just another stunning example of the greed of corporations, whether they are American or Indian, and a willingness to place people’s health at risk to make a profit.
William Crandell is a community activist and member of the Michigan Education Association and the Michigan Democratic Party. He is also a member of the South County Democratic Club where he has served as their communications director and as the chairperson of the SCDC Blue Tiger Community Action Committee.