A Study On The Impact Of Excessive Pricing Of Life-Saving Drugs On Market Competition And Public Health
- IJLLR Journal
- Jul 1
- 2 min read
Heera H, Tamil Nadu Dr. Ambedkar Law University
ABSTRACT
This study explores the impact of excessive life-saving drug pricing on market competition and public health, focusing on a pressing issue in global healthcare systems. The escalating cost of essential medications has raised concerns about its effects on pharmaceutical market competition and the accessibility of treatments for various populations. The research delves into how monopolistic practices, such as patent extensions and "evergreening," restrict market competition, enabling pharmaceutical companies to set high prices for life-saving drugs. This lack of competition not only limits the availability of affordable alternatives but also obstructs the entry of generic drugs, worsening health inequities. The study also examines the direct consequences of inflated drug prices on public health, showing how high costs reduce access to medications, particularly for low-income and vulnerable groups. The inability to afford necessary treatments often leads to poorer health outcomes, higher mortality rates, and increased financial strain on individuals and healthcare systems. Furthermore, the research highlights the role of regulatory measures, such as price controls and the promotion of generic drugs, in addressing the harmful effects of excessive pricing. In addressing the ethical concerns, the study raises important questions about the responsibility of pharmaceutical companies to prioritize public health over profit, particularly for life-saving medications. The findings emphasize the need for a more balanced approach to drug pricing, one that fosters innovation while ensuring equitable access to essential medicines. Ultimately, this research advocates for comprehensive policy reforms and global cooperation to tackle the challenges posed by high drug prices, ensuring that life-saving treatments are accessible to all, regardless of economic means.
Keywords: Life-saving drugs, Excessive Price, Pharmaceutical industry, Drug Pricing, Public health, Monopoly, Generic drugs, etc
