The federal cabinet’s recent decision to increase the cost of 146 life-saving medications is a big, if divisive, step towards solving the long-standing drug pricing problem. A careful balance must be struck between the pharmaceutical industry’s ability to make money and the public’s ability to afford necessary medications. Targeted government subsidies for life-saving medications must be taken into consideration. Novel approaches are required, such as levying taxes on pharmaceutical companies’ turnover to pay for the purchase of medications for public hospitals, ensuring that the most disadvantaged people have access to essential medications at no cost to them. A healthcare system where everyone, regardless of financial situation, has affordable and easy access to life-saving medications should be the ultimate goal.

Source: The Patriot February 18, 2024 22:49 UTC