Health Care Reform Project: Prescription Drug Abuse
Health Care Reform Project
YOURNAME
CLASS
DATE
PRESENTED TO
Health Care Reform Project
Prescription drugs are one of the main increasing costs in health care. It has an impact on the population that could not afford prescription drugs, including brand name. The use of generic and OTC (over-the-counter) drugs gave the underprivileged groups in America a better chance for purchase. People believe that the generic form of the drugs do not have the same effect that brand name drugs do. It is a concern that prescription drug addictions rise in the elderly and the younger groups who use for nonmedical reasons. The availability of drugs is one of the causes of abuse. Most people take medicines only …show more content…
Strict FDA guidelines to the research, development, testing, sale, and consumption have a direct impact on the supply curve. Drug manufacturers invest years and millions of dollars in research and development of new drugs and own long-lasting patents on new drug production. Once these drugs have passed the various levels of FDA approval, drug manufacturers market these to consumers who begin making the demand curve. Limited supply, regulatory compliance, and research costs put upward pressure on price.
Prescription drugs whose patents have expired are highly elastic; however, prescription drugs whose patents still exist are highly inelastic. Many consumers will substitute generic brands for drugs that have had their patents expire. These generic drugs can be produced at a much lower cost and yet still contain the active ingredients and FDA approval to their brand name equivalent. As a result, supply increases along with demand and puts downward pressure on price. Because there are no substitutes for patented drugs, consumers have no choice but to pay the higher prices determined by supply and demand …show more content…
This is a signs that a person is addicted to prescription drugs. Most of the time when a prescription drug comes in a child proof container there is a chance that the medication in the container is addictive it is like the drug heroin or crystal meth. A way that a person could avoid the chance of overdosing or getting addicted to prescription drugs is if he or she would not take any medication that was not prescribed to he or she should go by what the instructions on the individual’s bottle of
YOURNAME
CLASS
DATE
PRESENTED TO
Health Care Reform Project
Prescription drugs are one of the main increasing costs in health care. It has an impact on the population that could not afford prescription drugs, including brand name. The use of generic and OTC (over-the-counter) drugs gave the underprivileged groups in America a better chance for purchase. People believe that the generic form of the drugs do not have the same effect that brand name drugs do. It is a concern that prescription drug addictions rise in the elderly and the younger groups who use for nonmedical reasons. The availability of drugs is one of the causes of abuse. Most people take medicines only …show more content…
Strict FDA guidelines to the research, development, testing, sale, and consumption have a direct impact on the supply curve. Drug manufacturers invest years and millions of dollars in research and development of new drugs and own long-lasting patents on new drug production. Once these drugs have passed the various levels of FDA approval, drug manufacturers market these to consumers who begin making the demand curve. Limited supply, regulatory compliance, and research costs put upward pressure on price.
Prescription drugs whose patents have expired are highly elastic; however, prescription drugs whose patents still exist are highly inelastic. Many consumers will substitute generic brands for drugs that have had their patents expire. These generic drugs can be produced at a much lower cost and yet still contain the active ingredients and FDA approval to their brand name equivalent. As a result, supply increases along with demand and puts downward pressure on price. Because there are no substitutes for patented drugs, consumers have no choice but to pay the higher prices determined by supply and demand …show more content…
This is a signs that a person is addicted to prescription drugs. Most of the time when a prescription drug comes in a child proof container there is a chance that the medication in the container is addictive it is like the drug heroin or crystal meth. A way that a person could avoid the chance of overdosing or getting addicted to prescription drugs is if he or she would not take any medication that was not prescribed to he or she should go by what the instructions on the individual’s bottle of