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ElaKiri Talk!
Most expensive medicine
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<blockquote data-quote="1sam" data-source="post: 24803925" data-attributes="member: 557062"><p>Not all the medicines are cheap to produce. </p><p>But some costs next to nothing. </p><p>It's not the production cost that dictate the market price.</p><p>There are lots more behind the scene costs (most of the time billions, if not millions) are associated with the market price of any given medicine.</p><p>Demand, patent monopoly(up to 10 years), and all the costs related to experiments, tests, animal trials, human trials, and get all the necessary patents, licences and approvals like FDA, EMA, and ultimately by WHO, are few examples. </p><p></p><p>Of course, drug companies have huge profit margins, but they will have to reinvest some of that monies for experiments and tests, which may end up in a total loss.</p><p></p><p>In the other hand, if those companies are not having enough money for new experiments, inventions and tests, there won't be any new medicines. </p><p> </p><p>On top of all those, drug companies are forced to sell their products to 3rd world countries at an affordable price. Developed countries pay a higher price to compensate the price difference (which monitored by WHO) .</p></blockquote><p></p>
[QUOTE="1sam, post: 24803925, member: 557062"] Not all the medicines are cheap to produce. But some costs next to nothing. It's not the production cost that dictate the market price. There are lots more behind the scene costs (most of the time billions, if not millions) are associated with the market price of any given medicine. Demand, patent monopoly(up to 10 years), and all the costs related to experiments, tests, animal trials, human trials, and get all the necessary patents, licences and approvals like FDA, EMA, and ultimately by WHO, are few examples. Of course, drug companies have huge profit margins, but they will have to reinvest some of that monies for experiments and tests, which may end up in a total loss. In the other hand, if those companies are not having enough money for new experiments, inventions and tests, there won't be any new medicines. On top of all those, drug companies are forced to sell their products to 3rd world countries at an affordable price. Developed countries pay a higher price to compensate the price difference (which monitored by WHO) . [/QUOTE]
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