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Generic Drugs Versus Brand-Name Drugs

Hutton 1 Paige Hutton Professor Meenan ENG123-B 14 April 2019 Argument Essay: Generic Drugs Versus Brand-Name Drugs In recent years, the argument between generic and brand-name drugs has arisen as a controversial topic in the medical world. A person's quality of life should never be impeded by prohibitive and burdensome medical costs. Drug companies have been increasing their prices at exponential rates, which is alarming because rather than providing antidotes for certain ailments for the wellbeing of their consumers, the companies are treating their medical products as a business, looking solely for large profits. Prices going up by 20% to even 600% at times has crippled communities, especially those whose residents are unable to afford health care, meaning the cost of medicine can take over a significant part of a person's budget. If medicine is unaffordable, this causes great suffering and even leads to shortened lifespans in individuals. In order to overcome this medical crisis for society, especially for those in poverty, there must be lower prices available to consumers, increased competition between corporations, and newer developments in medical advancements. If these measures are adopted, one day affordable medicine will be available to all Pharmaceutical corporations worldwide have failed to keep their consumers' wellbeing in mind because they have been far more concerned with their profits than the lives they are supposed to be helping. Consider the case of medical giant Mylan: its prices for its lifesaving Hutton 2 device EpiPen recently skyrocketed, prompting an uproar from the public. As Andrew Pollack stated in his article, "co-payment assistance is part of the standard playbook for companies selling expensive drugs: The goal is to spare the consumer, who might create a political uproar, and yet still get paid by the insurance company or government health program." Medical companies are turning their industry into a business corporation, even more so by playing to the insurance companies' games, rather than caring for the wellbeing of those lives involved and affected. When greed drives the prices of medicine, the result is nearly debilitating for the patients who are in desperate need of these expensive treatments unless they have the wealth to afford them. Instead of using these profits to further advance their drugs for the customers, this money only goes right into the CEOs' pockets. This issue is crucial because everyone, everywhere, deserves to live life without medical bills looming over his or her every move. One pathway to making medicine accessible to all, including over-the-counter and prescription drugs, would be to heighten rivalry between companies. In order to achieve this, we would need to sift through the backlog of generic medical companies waiting for approval by Food and Drug Administration. By clearing the generic brand of drugs, which are equally effective as name brands, and getting them on the market, there would be cheaper medicine for everyone. This said, releasing more generics into pharmacies would force corporations to provide the lowest price for their product in order to compete with the prices of