Tuesday, October 13, 2015
A long-standing PR headache for pharmaceutical companies has been the price of drugs in the US by comparison to other countries. It is a self-inflicted pain that the companies defend because they say it costs millions for them to discover and produce new cures for diseases and they have as many failures as successes. That is true but it still doesn't stop the drumbeat for lower pricing. Sooner or later, pharmaceutical manufacturers will give in on the cost of their most popular remedies because the pressure will be too much to bear. A combination of government and health insurers will force the issue. Meanwhile, they charge exorbitant fees for some of their drugs and they are getting away with it despite criticism. They know they are on borrowed time and the clock is running out. One would think that one or more of the companies would seize the PR initiative and voluntarily match the price of their drugs worldwide, but so far that doesn't seem to be the case.