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Why Are Prescription Drugs So Expensive?



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Americans are paying outrageously high prices for prescription drugs compared to the rest of the world. So what determines the price of drugs?

Learn More:
Martin Shkreli raised his drug's price 5,500 percent because, in America, he can
http://www.vox.com/2015/9/22/9366721/daraprim-price-shkreli-turing
"Daraprim is a small, white tablet that looks a lot like aspirin. "

To Reduce the Cost of Drugs, Look to Europe
http://www.nytimes.com/2015/10/20/upshot/to-reduce-the-cost-of-drugs-look-to-europe.html?_r=0
"When anyone proposes reducing prescription drug prices - as Hillary Rodham Clinton and Bernie Sanders recently have - the most commonly heard criticism is that it would squelch innovation."

FDA: Frequently Asked Questions on Patents and Exclusivity
http://www.fda.gov/Drugs/DevelopmentApprovalProcess/ucm079031.htm
"Patents and exclusivity work in a similar fashion but are distinctly different from one another."

Music Track Courtesy of APM Music: "Evolving Elements"

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Comments:

Author Wyatt Nemm ( ago)
The USA subsidizes the rest of the world's prescriptions, so yeah, enjoy the free shit everyone. and as always #StayTriggered

Author gymkhanadog ( ago)
Don't need a 4 minute video to explain it. Perscription drugs are so expensive because big pharma aren't philanthropists. They want to make money hand over fist, and this is an easy if not time consuming way to do it.

Author Lemonz1989 ( ago)
I use brand name insulin in Denmark made by Novo Nordisk (a Danish company), and I pay $38 a vial (without a subsidy), which lasts me about two weeks. The same drug in the US can cost up to four times that amount, but is usually double that price. It's crazy! I can't live without it, and I think it's pretty expensive for a student as is.

Author gmc9753 ( ago)
What percentage of TV commercials are for lawyers looking for clients that have taken this drug or that drug and may have been harmed?
"You may be entitled to a large cash settlement."

Author beth98362 R ( ago)
The FDA does little or nothing to control drug costs!

Author Yolisod ( ago)
46 Pharmaceutical executives or directors disliked

Author opsoli ( ago)
fucking jews.

Author Divergent Evolution ( ago)
Allowing profit from healthcare is not only immoral, it is proof of government corruption.

Author Steve Strickland ( ago)
no one seems to mention the FDA rules and laws which is the major cost in putting new drugs on the market

Author Bluesky ( ago)
One acid reducing drug came off patent, and the company making it paid a generic manufacturer not too make it.

Author adayinforever ( ago)
2:52 The other 28 percent are either millionaires, own pharmaceutical stocks, work for big pharma, lobby for big pharma, or are members of congress.

Author Nicholas McNamara ( ago)
if your a dual citizen living in the united states get your drugs from home i have a friend who gets his doctor in Australia to prescribe what the yank doctor writes on a piece of paper his mother mails them to him with a copy of the prescription he saves big on meds

Author Christian zember ( ago)
Here's a quick econ lesson on high drug prices:

First off I want to note that the US spends more per capita than any country in the world on healthcare (from the taxpayer pool). So under-taxation, and underfunding from government is not the issue.

Secondly, private healthcare expenditures in America are FAR higher than any other country.

So why are drugs so expensive?
Pharmaceutical companies are businesses, and they set their prices, not set on greed, but on demand. The level of demand in the market, driven by willingness to pay, sets the prices for drugs. Companies cannot just set a super high price and succeed, they set the price directly to the market demand (note that demand, a term that is misleading to those unfamiliar with econ, is derived from the quantity being actively purchased. commonly falsely thought of as a prediction derived from forecasted market conditions). In other words, if in January 100 people purchased epipen and payed $100 dollars for it, brining comfortable profit, the price in February will rise knowing that there was untapped market share in January.
Here is how this concept come to play in the prescription drug scenario, and the cause of high prices

When President Obama enacted the Affordable Care Act, he made it mandatory by law for citizens to have health insurance. This means that insurance companies had guaranteed customers. With guaranteed insurance holders, came guaranteed demand and ability to pay for pharmaceutical companies. In other words, the federal government created "demand" that was not driven by willingness to pay, or real market forces that set appropriate prices. Insurance companies can only afford to provide a level of service in which they can afford, so with a huge pool of people forced to buy their service, some new policy holders cannot afford high-quality coverage, so of course, the quality of insurance fell to match what was being purchased.

When drug manufacturers raised the price of goods to meet new, unchecked, never-ending demand in the market, and insurance was providing sub-par coverage for the purchase of drugs (also in accordance to the artificial forced demand fro the gov mandate) prices soared, and the individual felt the burden left over from the insurers non-ability, and non-motivation to fully pay for the drugs.
And just do be extra clear, the burden taken on by consumers is the difference between the actual demand which is decided by private individuals, and the artificial demand created by the Affordable Care Act.

Privatized medicine and insurance creates competition, and keeps price in line with American's ability and willingness to pay; which of course, brings prices down significantly.

ACA was the biggest disaster quite possibly in all of American History.

Author sebastian cuello ( ago)
Skip to 2:35 to get the video's answer.

Author Dizzy Davis ( ago)
Cost $6 here in Australia if you're a low income, student or pensioner. Yet Americans act like any form of socialism is evil.....

Author Captcha C ( ago)
The United States is ridiculous! If you would learn from other countries and stop being so greedy, people wouldn't be so broke they end up on Welfare. Also, you should never be allowed to raise prices against elderly people. The government needs to step in and refuse to allow people to charge excess like 5000% up charges.

Author John Costello ( ago)
like everything else, we get fucked due to a government that doesnt care about you. keep voting assholes.

Author Ahhh Fuck It I Can't think of a good name ( ago)
Drug prices are unreasonable, why shoul i have to pay $201 for 30 of my 100mg zoloft prescription for my depression i probably would have killed myself already without that stuff

Author Liam Abc ( ago)
There not that expensive.... most are free In the UK

Author steppenwolf ( ago)
really? people actually have to ask this? i can sum it up in one sentence: so the drug companies can make the most money off of you. THAT'S IT! end of list.

Author Ossie ( ago)
wow this bitch is dumb, shes just reading something someone else wrote for her, martin skreli is a hero

Author popoxee ( ago)
Not only the drug price is crazy, the hospital fee is unbearable for normal individuals and families. Two or three night of stays will cost you your whole year salary. US medical system is the most fucked-up in the world as I know.

Author biscoito1r ( ago)
Just buy it online fro India, this is what I did.

Author john doe ( ago)
America fucking sucks

Author Osiris Malkovich (650 years ago)
Almost a 4 minute video. How long does it take to say "greed?"

Author Alex Minor ( ago)
Silly Commies brains are for humans

Author Frank08046 ( ago)
The reason they are so high. Our politicians have sold us out, yet again.

Author MrFuthisshit ( ago)
I was so shocked when i learned how much the pill costs in the usa ( when i was on it i used to buy it for about 4$ a pack, the most expensive ones are about 10$ )

Author John Benton ( ago)
All prescriptions in UK cost £6.45 per item, unless you're one of the 40% who get them FOC. But thats where 'socialised' healthcare gets you.

Author Hardeep SIngh ( ago)
Its FDA's fault you communist. It cost companies average of 10years and millions of dollars to approve a drug. SO LIKE EUROPE GOVERNMENT SHOULD SET THE PRICE? ARE YOU COMMUNIST? It is already expensive because for government managing and you think it will be cheaper if if they intervene more? You lefties are unbelieveable.

Author Asjad Hasan ( ago)
So everything just comes down to *capitalism*?

Author Young Squirrel ( ago)
how powerful is my moms cooking ;)

Author promontorium ( ago)
This biased bullshit report proposes government forced price fixing like in Europe, and glosses over the fact that the whole reason drug companies have to charge so much is because the government makes it so expensive and difficult to get FDA approval in the first place. Lots of American companies just take their products overseas and sell them to Europeans and dodge the FDA altogether.

These same companies charging low rates in Europe, this dumb bitch is accusing of intentionally charging high rates in America and "needing" (further) government intrusion to lower prices. Listen morons, if the company is willing to sell overseas cheap, why wouldn't they be willing to do it here? It's not about want. it's about force. Government forces them to raise prices. More government isn't the answer. If you want cheaper prices like Europe, change the FDA to not make it so expensive.

Author Tom Murse ( ago)
72% of Americans believe drug prices are unreasonable. Guess we 72% need to raise 4 billion dollars to beat out a few corporations in order for us to be heard up on capitol hill. Oh, wait. I forgot. Those corporations will just make sure to beat our bid by at least 1 billion...NVM.

Author Joel Reid ( ago)
Corruption of government that puts people's loves in danger... usually that is an excuse to overthrow the government. How do American's put up with that?

Author mosqaliuc ( ago)
legalize cannabis world wide!!

Author BEYatrice ( ago)
Short Answer= Greed.

Author Zeowl Owlite ( ago)
in other country lobbying = bribery

Author Catzkhan ( ago)
Because the US is shit. I have to take a drug that is around 500 dollars a month, I don't pay a single cent cause my glorious third world Colombian government pays for it.

Author postmortemarg ( ago)
*Because big pharma has a monopoly in the drug industry. Overcharging poor sick people in a still unstable economy is the same as sentencing them to stay sick or die. In the mean time, CANNABIS which can replace many of these drugs, is still legal and demonized.* It wouldn't surprise me to find out that they are lobbying against cannabis cause it threatens their gold mine.

Author jacob severiano ( ago)
Americans need to stop calling giving money to politicians lobbying and call it what it is bribing at its worse.

Author Alexandre Teotónio Pereira Stuve ( ago)
Cause you ain't got no socialism

Author KTG ( ago)
This is what dumbass Republicans want. 100% unregulated free market pricing. No wonder the majority of states on welfare are red states.

Author Cre Mist ( ago)
Do a video on Antarctica's violations of international law.

Author Joshua Williams ( ago)
Perfect example of immoral corporatism. Not Capitalism.

Author Chuck Taylor ( ago)
Marijuana heals many ailments these drugs don't. So many different strains to help, also some with very little amounts of THC.

Author Daniel harvey The chocolate kyle kulinski ( ago)
profits over people! !

Author fl00fydragon ( ago)
drugs should be considered as an extention of the right of human life
therefore pricegouging should be considered a crime against humanity

Author majed-7117- ( ago)
How powerful is me?

Author Lip Jing Ng ( ago)
because price inelasticity

Author cambellenious korsakoff ( ago)
Its disgustin how the U.S treats it citizens. Health care should be free, it's one of the only reasons I agree with taxes in the UK.

Author Ian Moone ( ago)
How powerful are the citizens

Author lifefource ( ago)
Crazy, cruel system. The only ways to change it are protests, electing different politicians, and Bernie Sanders.

Author armlovesmetal ( ago)
But the R and D of any drug here in the USA is paid by tax payer money.

Author jasonc_tutorials ( ago)
Alexander Schlugin did it as a hobby. Not for monetary. There is probably a cure for everything, except nobody knows because of zero marketing and it's probably a kept secret.

Author Heather Miles ( ago)
They should get something like The NHS in the US it would help poor people afford medical care and drugs!!

Author blackjin21 ( ago)
Simpsons did a episode on this 4 years ago

Author Bo Bi ( ago)
#TheBestCountryInTheWorld –.– 😒😒😒😒

Author Siddhartha Sahu ( ago)
Who are the Eskimos?

Author chadmaraj ( ago)
process involved for large scale manufacturing aswell is why Costs are so high...

Author Suna ( ago)
Only in the fucking U.S. Here's to show that Capitalims is not a good system... palm in face... greedy people getting richer, it's outrageous

Author Spera TV ( ago)
Julia?
1^1?

Author Inkswitch ( ago)
"America is the only developed nation that lets pharmacutical companies behave this way." - go figure

Author zukodude487987 ( ago)
So the solution for spending less on drugs is to go vegan.

Author JMan ( ago)
Bernie 2016

Author leeofthevoid ( ago)
never heard of expensive prescriptions, much be an American thing. unless i'm simply not fucked up enough to know >.<

Author Uno G ( ago)
I don't think they are expensive at all $4.50 per prescription and $1.50 for a chemo therapy treatment. But then again I live in Australia.

Author Nature Now ( ago)
"Capitalism is so bad! Look at this asshole that hiked the price up!"

Oh wait, he lowered the price after awhile and he had a monopoly? Hmm..

Author sid ( ago)
who cares! atleast US has freedom

Author Lion Kiss ( ago)
I don't care because ain't go to hospital but good for American people who believe in nasty doctor

Author Graham6762 ( ago)
Cui Bono from 9/11?

Author yakuza4 ( ago)
Why do I care about this, medication and healthcare is basically 'free' in the UK compared to the USA.

Author apburner1 ( ago)
The obvious was left out. Prices in the US are higher to make up for the freeloaders that have socialist governments setting the price not based on actual costs.

Author Dragon Ball Super Is NOT Canon ( ago)
1

Author Truth118 ( ago)
How powerful is good weed?

Author SouthernMuscle ( ago)
The REAL reason drugs are so expensive in the U.S. and not other countries is because the U.S. forks over the research money to develope and research these drugs. Then, the rest of the world rips off the drug ingredients and manufactures it without any risk.

Author Jared Brooks ( ago)
Please make a video about the Chagossians!

Author Ken McAllister ( ago)
Get money out of politics and we'll see the price for all kinds things go way down.

Author CatSauceForThePeople ( ago)
Because profit for the rich is worth more than poor peoples lives.
Because capitalism is evil.

Author Ralph Wiggum ( ago)
Woo! Ireland!

Author Hans Landa ( ago)
Real reason? Because capitalism has created a society where money is more important than human lives. Money over all, the Amerian creed.

Author SpazzyMcGee1337 ( ago)
Is the lack of drug price regulation for making the development of new drugs more profitable? Americans have to spend more but America and the world ends up benefiting from a higher development rate for new drugs.

Author Mclauritsen ( ago)
America is great for buisness. Not very good for people mind you, but great for buisness!

Author Seth Caplan ( ago)
oddly enough drug patents must be patented during development, typically several years before they can be brought to market. That additional expense and risk also factors into high drug prices.

Author CrimsonFury006 ( ago)
Kevin Trudeau was right all along about drug companies. There in it for the money, not to help patients. If the opposite was true, all the drug companies would be bankrupt now. Not to mention, these drugs create very bad side effects, in which one would need another drug to counteract that, and another drug to counter act that, etc. It is insanity! No wonder why I find natural ways to treat my aliments. Want to learn more? Read " Natural Cures 'They' Don't Want You to Know About". Great read!

Author Quagthistle ( ago)
The free market at work! Behold the greed destroying our nation.

Author xDarkcynx ( ago)
this video is bullshit. the same drug in india that i take costs them about $3 where as it cost me $140 in australia

Author Ricky Hyde ( ago)
So backwards...

Author Aguila701 ( ago)
Republicans disagree with this video.

Author Aguila701 (122 years ago)
If only people knew what money really is.

Author Stephen Bruner (1054 years ago)
I quit smoking and drinking over 20 years ago, my health is very good. So far I have NO need for Big Pharma's overpriced products. Our govt. protects their greed.

Author AKFAN FORTYSEVEN (1123 years ago)
You forgot to mention the shareholders. The number one order of business is to make the shareholders happy. And to do that, they get the lions share of quarterly profits.

Author Humvee201 ( ago)
Ahh, Free Health Care....I want to move to Canada

Author Kyle D ( ago)
dear people of youtube,

there is a way to retaliate against drug companies. the answer is TAKE CARE OF YOURSELF. eat healthy food. get your proper nutrition. exercise. drink water. get enough sleep. simple shit. do all this and i guarantee most of you will never need to set foot in a pharmacy again

sincerely,
someone who actually cares

Author Iznikroc ( ago)
It has more to do with European governments being able to negotiate prices while medicare is unable to on top the bevvy of middle men who raised the cost of drugs and distance the consumer and in some cases doctors from seeing an actual price.

Author Mobjective ms ( ago)
Most of the drugs in the US r imported from countries like India...if a specific drug costs $10 in India then the drug will cost around $500 in the US....hence US pharmaceutical companies r making huge profits....these companies don't think bout the lives of poor people who can't afford such high prices.....since in the US capitalism is more important then humanity so nobody gives a shit....

Author Sean Pannella ( ago)
Your welcome non-US viewers. US citizen pay for the R&D for the drugs that you get pay a fraction of the cost for. But if US buyers didn't pay as much many drugs wouldn't be able to afford to be developed and many of the drugs would not be as rigorously tested. So bad mouth US but next time you take your meds just think if you had to pay for the R&D that went into that pill.

Author Quuton (1691 year ago)
Hehe, good im european (german) :))

Author Sasha Whitefur ( ago)
In war, that is called profiteering, which is a treasonable offense.

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