“Our drug prices should be regulated by the
“Our research shows that when prices fall, innovation falls even more. Patients would see their lives cut short by delayed or absent drugs.” (Lakdawalla). The goal is to cut down drug prices. I believe that drug prices should be regulated by the government. It will increase affordability and patient lives will last longer.Drug companies have had too much power over the prices of drugs for many years. They use their power to control drug prices and make more profits. For example, the founder of Turing Pharmaceuticals, Martin Shkreli, obtain the rights to a critical drug called Daraprim. This drug is meant for patients with life-threatening infections. Shkreli raised the price of the drug from $13.50 to $750 per tablet. He obviously did it to make money, there is nothing wrong with that. However, the moral issue that this price will kill many patients who cannot afford Daraprim.Some people believe that cutting down drug prices is a bad thing. They claim pharmaceutical engineers will make fewer drugs because they will not make money from the price cuts. This statement is far from true, many people become pharmaceutical engineerings so that they can create drugs to save the lives of their fellow human. It is not always about the money, some people work for little to no pay just because they love their jobs.By allowing the government to control drug prices, consumers will save tons of money. The government can make drug companies to either reinvest a minimum percentage of all revenues in research and development of new drugs or contribute money to the National Institutes of Health causing drug prices to fall. National Institutes of Health will use that money to research and develop new drugs as well.In conclusion, drug prices should be regulated by the government. The government will encourage companies to set more reasonable prices and discouraging them from purchasing the rights to existing products. And also make the drug development process faster. Which will cut down the price of drugs.