Question

Discuss the development of new drugs in the United States as compared to other countries, and evaluate the pharmacoeconomic issues that lead to high prescription costs in the United States.

Answer 1

US new drug innovation largest in the world. the US FDA innovated 59 new drugs approved in 2018. Drug discovery increased drug spending. US consumers spend three times more on drugs than their European counterparts. Americans' prices are 40% higher than 11 other developed countries like Canada, Australia, germans, France, Netherland, Sweden, Norway, and the UK. Branded drug revenue is $334billion with $134billion higher prices. global profit 46 to 96% ranging from $139 to $290billion has the highest prices in America. US market has 64% of the global profit. New drugs benefit everyone, so European prices would rise up to $10billion in the next 50 years. Due to the burden of disease condition new drug prices increased annually. The increasing cost of prescription drugs in the US, it is a major concern for patient, payers, policymakers, and prescribers. per capita spending on prescription drugs, $858 compared with $400 other 19 developed countries. High prescription drug prices and spending increased unsustainable health care costs in the US. High drug costs made a burden to access to drugs, there is an economic burden for payers and patients. high out of pocket costs that US consumers have less access to drugs make the pharmacoeconomic burden. the federal government can not provide cost support for all persons except Medicaid beneficiaries.