The cost of pharmaceutical drugs is the fastest growing portion of health care costs. Pharmaceutical companies claim that the high prices – many times more than the actual cost of manufacturing the drug – are necessary to recover their investment in research and development. Recent studies from around the world have debunked this claim. (Light, et al, “Will lower drug prices jeopardize drug research: a policy fact sheet,” American Journal of Bioethics, 2004.)
The Canadian Diabetes Association advocates that no Canadian should spend more than 3% of their total after tax earnings on necessary prescribed medications and other treatments. This is a good principle to support.