Public Policy Considerations in the Pricing of Prescription Drugs in the United States

1974 ◽  
Vol 4 (1) ◽  
pp. 171-179 ◽  
Author(s):  
T. Donald Rucker
Keyword(s):  
United States ◽  
Prescription Drugs ◽  
Drug Product ◽  
Economic Value ◽  
Economic Cost ◽  
The United States ◽  
Third Party ◽  
Accounting System ◽  
Consumer Sovereignty ◽  
Cost Accounting System

The economic value of prescribed drugs consumed in the United States probably reached $10 billion in 1973. Public interest in pricing practices is traced to the involuntary nature of patient illness in general and prescribing in particular, the intrinsic attributes of drug therapy, and the growing role of third-party programs in determining reimbursement for prescription items. Drug product pricing is criticized because of the large proportion of sales revenue consumed by indirect expenses. Nine branded products are cited where the median value of revenue consumed by indirect expenses is 91 per cent. Pricing problems related to increases in active ingredients, quantities sold, and package size are also examined. Pricing at the dispensing level is assessed in terms of its relationship to the true economic cost of this function. Significant imperfections are noted and a uniform cost-accounting system for pharmacies is recommended. The issue of prescription price posting is reviewed in some detail, and it is suggested that the posting of a unique dispensing fee in each pharmacy would optimize consumer sovereignty.

The Nonmedical Use of Prescription Drugs in the United States

1993 ◽  
Author(s):  
Edgar H. Adams ◽  
◽  
Andrea N. Kopstein
Keyword(s):  
United States ◽  
Prescription Drugs ◽  
The United States ◽  
Nonmedical Use

scholarly journals The Economic Effects of COVID-19 on the Producers of Ethanol, Corn, Gasoline, and Oil

2020 ◽  
Vol 18 (2) ◽  
Author(s):  
Andrew Schmitz ◽  
Charles B. Moss ◽  
Troy G. Schmitz
Keyword(s):  
United States ◽  
Cost Benefit ◽  
Economic Cost ◽  
The United States ◽  
Welfare Economic ◽  
Economic Effects ◽  
Economic Losses ◽  
Corn Ethanol ◽  
Empirical Estimation ◽  
Total Oil

AbstractThe COVID-19 crisis created large economic losses for corn, ethanol, gasoline, and oil producers and refineries both in the United States and worldwide. We extend the theory used by Schmitz, A., C. B. Moss, and T. G. Schmitz. 2007. “Ethanol: No Free Lunch.” Journal of Agricultural & Food Industrial Organization 5 (2): 1–28 as a basis for empirical estimation of the effect of COVID-19. We estimate, within a welfare economic cost-benefit framework that, at a minimum, the producer cost in the United States for these four sectors totals $176.8 billion for 2020. For U.S. oil producers alone, the cost was $151 billion. When world oil is added, the costs are much higher, at $1055.8 billion. The total oil producer cost is $1.03 trillion, which is roughly 40 times the effect on U.S. corn, ethanol, and gasoline producers, and refineries. If the assumed unemployment effects from COVID-19 are taken into account, the total effect, including both producers and unemployed workers, is $212.2 billion, bringing the world total to $1266.9 billion.

Fake Pharmaceuticals: How They and Relevant Legislation or Lack Thereof Contribute to Consistently High and Increasing Drug Prices

2003 ◽  
Vol 29 (4) ◽  
pp. 525-542
Author(s):  
Merri C. Moken
Keyword(s):  
United States ◽  
Prescription Drugs ◽  
The United States ◽  
Pharmaceutical Products ◽  
New Drugs ◽  
Pharmaceutical Companies ◽  
Brand Name ◽  
Potential Factors ◽  
Counterfeit Pharmaceuticals ◽  
New Applications

The use of pharmaceutical products in the United States has increased more than the use of any other health resource from 1960 to 1990. In excess of 9,600 drugs were on the market in 1984, and the Food and Drug Administration (“FDA”) approves approximately 30 new drugs and countless new applications for alterations of already existing drugs each year. In 2001, the $300 billion pharmaceutical industry sold $154 billion worth of prescription drugs in the United States alone, nearly doubling its $78.9 billion in sales in 1997. With such a rapid increase in market domination and expenditures, the U.S. government and many hospitals have focused their attention on the sales and pricing practices of pharmaceutical companies, as well as other potential factors contributing to these escalating prices. One such cause of the steadily increasing prices of brand name pharmaceuticals is the sale of fake or counterfeit pharmaceuticals (also called “look-alike” drugs).

Estimating the Economic Cost of Childhood Poverty in the United States

2018 ◽  
Vol 42 (2) ◽  
pp. 73-83 ◽  
Author(s):  
Michael McLaughlin ◽  
Mark R Rank
Keyword(s):  
United States ◽  
Economic Cost ◽  
The United States ◽  
Childhood Poverty

Are You Ready for Some Football? Estimating the Effect of American Football Season on Labor Supply in the United States

2021 ◽  
pp. 152700252110246
Author(s):  
Luke Petach ◽  
Dustin Rumbaugh
Keyword(s):  
United States ◽  
Labor Market ◽  
Labor Supply ◽  
Economic Cost ◽  
The United States ◽  
American Football ◽  
Hourly Wage ◽  
Market Models ◽  
Supply Effect ◽  
The Business Cycle

American football season reduces the Monday labor hours of employed men by two-thirds of an hour. A similar effect is found for Friday labor hours. We term these effects the “hangover effect” and “happy hour effect.” Consistent with a wide class of labor market models, the labor supply effect varies over the business cycle, increasing in expansions. The hangover effect implies an intertemporal elasticity of labor supply on the order of 0.014. Evaluated at the median hourly wage, our estimates imply an annual economic cost of foregone earnings associated with football season in the neighborhood of $5.06 billion.

Third-party funding na arbitragem contra Estados: a relativização da imunidade executória na execução da sentença arbitral contra Estados

2019 ◽  
Vol 1 (1) ◽  
pp. 203-234
Author(s):  
Ana Monteiro ◽  
Daniel Ferreira
Keyword(s):  
United States ◽  
Risk Assessment ◽  
Asset Pricing ◽  
The United States ◽  
Third Party ◽  
State Immunity ◽  
The United Kingdom ◽  
Domestic Legislation ◽  
Current Context ◽  
Party Funding

The purpose of this article is to assess the risk for preventing the execution of arbitral awards made against Sovereign States due to the State’s immunity shield. Given the importance of an accurate asset pricing in the business of third-party funding (TPF), the topic entails a particular relevance to the current context of globalized litigation in light of its contribution to the promotion of TPF at the international arbitration community. After reviewing the literature on TPF, on the peculiarities of investment and commercial arbitrations against States and on the evolution of State immunity (also in terms of domestic legislation, considering the local laws passed by the United States, the United Kingdom and Australia), the article aims explore how the funder should incorporate into its risk assessment the risk of not executing awards rendered against Sovereign States.

The Epidemiology of Drug Promotion

1977 ◽  
Vol 7 (2) ◽  
pp. 157-166 ◽  
Author(s):  
Milton Silverman
Keyword(s):  
United States ◽  
Latin America ◽  
Latin American ◽  
Prescription Drugs ◽  
The United States ◽  
Corporate Ethics ◽  
Social Responsibilities ◽  
The One ◽  
Global Company ◽  
Latin American Countries

A survey was conducted on the promotion of 28 prescription drugs in the form of 40 different products marketed in the United States and Latin America by 23 multinational pharmaceutical companies. Striking differences were found in the manner in which the identical drug, marketed by the identical company or its foreign affiliate, was described to physicians in the United States and to physicians in Latin America. In the United States, the listed indications were usually few in number, while the contraindications, warnings, and potential adverse reactions were given in extensive detail. In Latin America, the listed indications were far more numerous, while the hazards were usually minimized, glossed over, or totally ignored. The differences were not simply between the United States on the one hand and all the Latin American countries on the other. There were substantial differences within Latin America, with the same global company telling one story in Mexico, another in Central America, a third in Ecuador and Colombia, and yet another in Brazil. The companies have sought to defend these practices by contending that they are not breaking any Latin American laws. In some countries, however, such promotion is in clear violation of the law. The corporate ethics and social responsibilities concerned here call for examination and action.

scholarly journals Controversial advertising of medicines. A comparison between Poland and the United States

2018 ◽  
Vol 21 (5) ◽  
pp. 67-79
Author(s):  
Marta Makowska
Keyword(s):  
United States ◽  
Prescription Drugs ◽  
The United States ◽  
The European Union ◽  
Negative Consequences ◽  
Direct To Consumer ◽  
Law And Ethics ◽  
The Us ◽  
The Law ◽  
Direct To Consumer Advertising

For many years, the subject of aggressive marketing campaigns conducted by pharmaceutical companies has been raised in Poland. Drug ads are everywhere, on television, the radio, magazines and on the Internet. Therefore, it is extremely important is to ensure both their legal and ethical dimension. This article will present the differences between direct-to-consumer advertising of medicines in Poland and in the US. The dissimilarities result mainly from differences in legislation. In Poland, the law is much stricter than in the US. For example, in the United States companies are allowed to advertise prescription drugs directly to patients. In the whole of the European Union, and thus in Poland, it is strictly prohibited. The article will also present other regulations existing in Poland and in the United States and it will compare them. It will offer examples of violations of the law and ethics in the advertising of medicine in both countries. Lastly, it will briefly outline the negative consequences of unacceptable pharmaceutical marketing.

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