Scenario: Another big issue in business today is the about the ethics of pricing

Question

Scenario:

Another big issue in business today is the about the ethics of pricing. One aspect of pricing which is discussed and is very significant with regard to drug pricing, is the impact of pricing on customer access. Briefly stated, if the price is too high, some customers may be unable to afford a drug even if it is critical to their survival. Examples would be certain types of treatments for cancer and human immunodeficiency virus (HIV). Do a brief analysis of the issue of fair pricing of such drugs, using (a) concepts from the readings to date, and (b) any ideas or information you might have relative to any aspect of the issue.

Question:

Identify what you think are several important factual issues which might impact the policy choice?

Explanation / Answer

Unfairly high pricing for certain drugs, which are critical for patient’s survival is rapidly escalating issue in the US. The high prices both for generic and branded drugs are a result from the battle over profits between pharmaceutical and insurance industries, and the consumers are just caught in the middle. The following facts highlight the actual intensity of the issue:

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