Unless you have been living under a rock, you no doubt have noticed that drug price increases have resulted in a wave of public criticism, playing right into the media’s demonization of the pharmaceutical industry, and even becoming an election year issue. The United States is one of the only developed nations that largely does not restrict the drug prices charged to the public or government. This has led some in the industry to be complacent about the public perception of drug price increases.
While pharmaceutical companies should be able to price their products at whatever level they determine is appropriate without government intervention, the industry would benefit by getting ahead of government regulation and public backlash. The old refrain that high drug prices are justified because drug development costs billions, while true, no longer moves the needle in the debate.
Read the full article: How pharma cos. can shape the drug-pricing landscape