Drug pricing

Drug pricing refers to how the costs of medications are determined and set. Prices can vary significantly due to factors like research and development expenses, production costs, market demand, patent protections, and the involvement of insurance companies and pharmacy benefit managers. Countries have different approaches; some negotiate prices directly, while others allow the market to dictate rates. High prices can limit access to essential medications, leading to ongoing debates about fair pricing, affordability, and the balance between rewarding innovation and ensuring public health. Understanding this complex issue is key to discussions about healthcare and patient rights.