Inflation of Drug Prices by Pharmaceutical Companies
Inflation of Drug Prices by Pharmaceutical Companies
Student’s Name
Department, Institution of Affiliation
Course Code: Course Name
Professor’s Name
Date
Inflation of Drug Prices by Pharmaceutical Companies
It is no secret that COVID-19 has altered the course of history. COVID-19 has gone on to disrupt life, as we know it since it was designated a worldwide pandemic on March 11, 2020. The pandemic has become a priority health and humanitarian crisis requiring everyone to make the necessary adjustments. Lives have been lost; rates of hospitalization have hit new heights with everyone feeling the heat. The terrible epidemic that has afflicted the world's population has resulted in an unparalleled flood of patients in intensive care units, raising ethical questions not just about triage and withdrawal of life support choices, but also about family visits and the quality of end-of-life care. Dealing with such matters is bound to shake our ethical principles causing difficult situations for health practitioners. An unevenness between practical and individual ethics causes intractable discomforts that caretakers must overcome. Despite that, some prefer to benefit from adversity. Pharmaceutical companies see this situation as a goldmine for them. They Chose to hike up prices for essential medical services and rack up profits as the rest of the world is suffering.
The COVID-19 outbreak has possess several ethical challenges in the health sector. First is the treatment of COVID-19 patients. Health care professionals are posed with the question of how to ration resources fairly. These include ICUs, staff, and ventilators. The main goal is to save as many patients as possible but with limited resources, it proves almost impossible (McKenna, 2020). Second, Testing has been rationed in the United States since the first case of COVID-19 in January 2020. Advancing public health I the main objective. Prioritization is not about who is at greater risk but the person likely to interact or has already interacted with more people. An example is an NBA player displaying symptoms is likely to be tested first because they are likely to meet more people. It is not because they are more valuable than other citizens are. Third, Health workers have been faced with a very difficult decision. They have to decide whether to attend work because it is their duty or to stay home due to fear of getting sick themselves. Lastly, the vaccination process brings decisions that are more difficult to make in the health sector. They have to choose whom to vaccinate first until sufficient supply to treat the whole population can be secured. Securing vaccines for patients proves to be difficult because companies manufacturing them want more money. This type of behavior is questionable because they do not seem to relate to the current situation. They only care about profits. Securing vaccines for patients proves to be difficult because companies manufacturing them want more money. This type of behavior is questionable because they do not seem to relate to the current situation. They only care about profits.
Pharmaceutical companies deal with the development, manufacture, distribution, and sale of drugs. These companies are permitted to sell medical-related goods but must comply with certain rules to maintain their licenses (Sefah et al., 2021). Drugs have to be tested for safety before being allowed to enter the market. They have to ensure that they also are effective and cure or prevent the illnesses they are prescribed for. In this pandemic, these companies are vital in the fight against COVID-19. Being an independent sector, it is very easy to be roped in ethical battles with society. During times of need like this pandemic, they tend to forget the suffering of others and only think of themselves. Hiking the prices of medicine for monetary gains is such an issue. Due to the demand, these companies see it as an excellent opportunity to reap big. This results in dreadful effects on the maintenance and improvement of health among patients. This caused people to question the integrity and molarity of those in charge of these organizations. Such behavior forces people to abide by their rules because their health is more important. Data collection and analysis were done using two methods. First, hospital administrators and other stakeholders were handed question
