Implement Legislation to Identify and Outlaw Price Gouging in the Pharmaceutical Industry
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Price gouging within the pharmaceutical industry is a major problem. Price gouging is seen when drug companies raise the price of a medication until their list price is exponentially higher than their price to manufacture the drug (including research and development). Price gouging cannot be limited by letting the free market operate within the drug manufacturing industry since patients rightfully perceive their prescribed medications as a necessity for good health and (potentially) survival, and there is often no reasonable alternative.
Because of this price gouging epidemic, many patients will face a large financial burden for merely taking their prescribed medications. For price gouging to be eliminated or at least reduced, the federal government must step in to set price ceilings based on how much it costs for a certain company to manufacture a drug, ensuring that the drug companies make a net profit, while minimizing the financial burdens placed onto patients. Furthermore, a drug company's failure to comply with the price ceilings must be punishable by law. With your help, our voices can be heard by Congress, and we can make a much needed difference in the pharmaceutical industry.
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