Medicine Costs in America: Pay Done By Canadians

The same is happening because of a Canadian law which actually authorizes every drug dealer through a review board to order a decrease in price if the price of a drug does exceed the median price in the other European countries which does include the U.S.A.

Canadians with lacking scope, for the most part independently employed or unemployed laborers, are frequently not able to profit by ideal medications. Here we are talking about a large chunk paying very less amount than Americans do.

But the issue doesn’t end here. This law has been in place because the other states in U.S. are far behind in terms of research and development than America which can afford to do a lot of research and develop new prescription drugs. (Kounang, 2015) 

If I talk about my position on the same issue: Canada not being as affluent as America ultimately has this law to protect the interest of their citizens. Keeping this in mind, there should be this rule present in the country various authorities intervene. Various ways to hold down drug costs. But not because of Price Discrimination- My stand will if there is price discrimination then Canadians should also be charged same like Americans are done. (Slate.com, 2000)

But there is an issue in Canada; the companies are ready to sell for lower prices in there and nowhere else only because they are able to sell for more in the United States. Price discrimination is prevailing just because America can do good R& D and has money but in Canada, unfortunately they are charging different prices to different buyers for the same medicine. 

No administration ought to when the aggregate expenses of these mechanical strategies are higher than aggregate twist off that Canadians get from this segment. The primary reason physician endorsed medications are so costly in Canada is a direct result of private back up plans. Just in the United States is a more prominent extent of professionally prescribed medication costs paid for by private safety net providers. This private scope is absolutely wasteful, and the organization charges much higher for private other than the other open arrangements. 

Price discrimination only works in the drug industry because of the expensive nature of R& D and the cheap nature of manufacturing.

For whatever length of time those organizations can recover their innovative work costs by charging high costs in the United States. And moreover they are even making a benefit in Canada and somewhere else by only taking care of the expense of making the pill or just anything in name of drugs. (Gangon, 2011)

In late months, individuals from Congress from both sides have acquainted bills with stop this medication value segregation, either by changing law or same prices should be charged everywhere.

It would need to take care of R&D costs, as it would be higher than the present cost in Canadian countires. Be that as it may, those expenses would be spread over more pills, so it ought to be lower than the present American cost. The commitment to R&D costs, and more costs of drugs will have to be managed by Canada but this will only develop the nation. 

There can be a rebut that if Canada is not affluent and capable enough to do R& D, how can they work in this direction. My counter will be as follows: 

Doubtlessly the pharmaceutical part is in charge of around 50,000 occupations (immediate and backhanded) in Canada and that every employment is paid a normal of $80,000 a year.. The issue is that these strategies are unreasonable and unjust. As the pharma industry is found completely in Ontario etc.., it looks bad for instance that Americans should be the only ones to pay high costs. Why can’t US as a whole do R& D and develop medicines. This will not only have employment opportunities but also make sure that country is prospering as a whole.

References

Kounang, N. 2015, why pharmaceuticals are cheaper abroad, CNN, https://edition.cnn.com/2015/09/28/health/us-pays-more-for-drugs/, Accessed on 17^th August, 2016 

Gangon, A, 2011, Why Our Prescription Drugs Are Too Expensive and What We Can Do About It https://www.huffingtonpost.ca/marcandre-gagnon/prescription-drug-costs_b_877024.html, Accessed on 17th August, 2016 

Slate.com, 2000, Why Do Drugs Cost Less in Canada? https://www.slate.com/articles/news_and_politics/explainer/2000/05/why_do_drugs_cost_less_in_canada.html, Accessed on 17th August, 2016