Why Are The Prices Of Medications Sky Rocketing Post Covid?
You must be aware of the upheaval going on in the economic market with the outbreak of covid-19 last year and catastrophic consequences of it continue to prevail. Several lives ‘not knowing the coming times would be so tough’ are grappling to even earn their basic needs on a daily basis. So much so, the government is leaving no stone unturned in worsening the life of miserable people who need to be treated with good medical facilities at affordable prices. However, there is a lot that the government is doing to protect the lives of people. More than anything else, the market of medicines at this point is ahead of everything and overtakes many leading businesses. However, the deprived section of society has to struggle to get required medicines as the prices of medication are skyrocketing post covid. Pharmaceutical companies have surged the prices of the drugs such as anti-depressants, sedative, and disease drugs along with Covid-19 drugs amidst the fear of the pandemic. Moreover, patients are sailing through tough times with widespread unemployment, heightened risk for covid-19, and not being able to treat them properly with increased drug prices after Covid-19. It should be acknowledged that pharma companies have increased their productions of medicines with increasing number of cases across the globe. However, instead of alleviating the prices, they are rapidly increasing the prices of effective vaccines to combat covid-19. The corporation has taken this initiative to raise the prices of drugs to keep people healthy and alive. This is to save people from the expenses of hospitalization and treat them effectively with potent covid-19 medicines. Reasons Behind The Surge In Prices Of Medications Vaccines are developed in full swing by pharma companies but at the same time government subsidized its revenue by agreeing to pay hefty amounts for the finished products. All the vaccines that are developed are because of the government’s funding. Take Remdesivir for example, it is used to treat people infected with the coronavirus. The researchers believe that pharma companies are increasing the prices of medications in anticipation of the increase in demand if specific drugs prove to be promising. Some patients who got diagnosed with covid-19 require ventilators, therefore ICU beds. The reason has led to the expected increase for vital drugs to sedate ventilated patients. As per the research, around 70 percent of Covid-19 patients do not require hospitalization and can be treated successfully relying on the medications such as Ibuprofen, Tylenol, and Reglan to mitigate covid-19 symptoms. Pharma companies emphasize that these medications are important to avoid the higher risk of being severely ill if contracted covid-19 symptoms. Mental and physical health is at stake due to covid-19, due to which the demand for lots of medicines has started soaring. Other Reasons Why Prices Of Medications Are Increasing The expected delivery of medicines is affected due to the pandemic and prices of the medications have started increasing. Limited flights from overseas, causing the delivery to extend a little longer. USPS delaying the delivery with the widespread outbreak of the pandemic. Warehouses and companies are left with limited resources for the distribution of medicines. Strict customs checking in all countries leading to seizing the medication. Limited medication and soaring demand of it have led to increase in prices and delay in delivery. Manufacturers from overseas are focusing on life-saving drugs to fight covid hence, manufacturing of other medications has come to the halt. Getting back to normal might take another 1-2 months.