Specialty Drugs, Issues And Challenges - 904 Words

The High Cost of Specialty Drugs; a breakdown of an American’s Health Insurance Plans article titled, Specialty Drugs; Issues and Challenges An analysis of an Issue Brief from American’s Health Insurance Plan titled Specialty Drugs; Issues and Challenges, I learned about the monopoly system that pharmaceutical companies are currently establishing in the United States. Pharmaceutical companies are having breakthroughs in the way they treat serious illnesses. Many of these breakthrough treatments come from specialty drugs. Specialty drugs are drugs composed of living organisms with complex molecular processes. They require special delivery and an increase in shipping expenses. These drugs also require that a patient receives further monitoring than with traditional pharmaceuticals. Specialty drug cost has rapidly increased within the past few years. With the introduction of specialty drugs that are targeted towards illnesses such as cancer, rheumatoid arthritis, multiple sclerosis, and hepatitis C, the number of people that can benefit from these drugs has skyrocketed- increasing from as scarce as 1000 nationally to millions of people. Add that with the price tag of a single treatment costing up to the excess of $750,000. According to Brian Rosman, a research director at Health for ALL, â€Å"Drug prices are by far the fastest-growing part of health care costs†(Weisman, 2015). The financial burden that has been placed upon business as well as Medicaid and Medicare are creatingShow MoreRelatedThe Case Of Sovaldi Drug1386 Words   |  6 PagesThe manufacturers of Sovaldi drug are also of the opinion that government and public officials do not take into account all the benefits mostly economically which emanate from the prescription of the drug. 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Companies-producers of â€Å"blockbusters† are in an advantageous position because drugs that fall into this category provide faster and deeper penetration into the market