Prescription Drug Prices Preparation: Research corporate so

Prescription Drug Prices Preparation: Research corporate social responsibility actions of corporations. Research Federal and State efforts to curtail increases in prescription drug prices in U.S. and other countries.View Videos:Prescription Drug Pricing in U.S.Set F: Videos on Corporate Social Responsibility Background: Article 1 – What’s behind the sharp rise in prescription drug prices? – CBS News By DENNIS THOMPSON HEALTHDAY Prescription drug prices are skyrocketinginthe United States due in large part to government regulations, a newanalysis finds. These regulations allow drug manufacturers to charge monopolistic pricesthat aren’t opposed by competing market forces, the researchers believe. Drugmakers charge high prices for drugs thanks largely to “marketexclusivity” regulations intended to allow them to recoup the researchand development costs for new breakthrough medications, said seniorauthor Ameet Sarpatwari. He’s an instructor at Harvard Medical Schooland the Harvard T.H. Chan School of Public Health in Boston. The companies can do this largely unopposed because the nation’s largest health insurers — Medicareand Medicaid — aren’t allowed to negotiate prices, he added. Thoseinsurance programs cover one out of every three Americans, but underfederal law must pay whatever price the drug makers charge. Article 2 – House approves drug price-gouging bill by Erin Cox, The Baltimore Sun Underthe legislation a drug price increase by more than 50 percent wouldtrigger a report to the attorney general, who would have power to demandan explanation for the increase. Theproposed law also allows the state’s top lawyer to ask a judge todetermine whether a drug company implemented an ‘unconscionableincrease’ to a critical prescription medicine. The measure allows ajudge to fine the drug company, as well as order refunds to consumers. Attorney General Brian E. Frosh sought the new authority. Theattorney general would be able to take action if the manufacturers ofan off-patent or generic drug make an ‘unconscionable increase’ in priceunder a bill that passed the House on a 137-4 vote. An ‘unconscionableincrease’ is defined as an excessive increase not justified by the costof producing or distributing the drug. Supporters say Maryland would bethe first state in the nation to make off-patent pharmaceuticalprice-gouging something state officials could take action against. Discussion: Is resolving this issue of price gouging for prescription drugs something for government versus business to address. You must select one side. If Government, Discuss prosand cons if addressed at a federal or state government level. Decidewhich government level (federal versus state) is most effective and why;Discuss what mechanism or actions would be implemented by government;Discuss expected response from actions taken by government from:CEOs of Drug Industry Employees of Drug CompaniesShareholders of Drug CompaniesConsumers/CustomersOther government level (if action taken by federal, how would state respond and vice versa). If Business/Industry, Discuss impactto business in terms of market dominance, competitiveness,profitability, and ability to recoup R&D efforts, if the governmentintervenes instead of the company addressing this issue;Discuss what strategy the business can take to curtail price increases while making a profit and providing a quality product; Discuss expected response from actions taken by business from:CEOs of competitor Drug company Employees of Drug CompaniesShareholders of Drug CompaniesConsumers/CustomersGovernment

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