Over the course of five decades, American annual expenditure on pharmaceutical drugs has increased by more than $350 billion. This drastic increase has led many patients to struggle to afford their necessary, and potentially life-saving, medications. Today’s high pharmaceutical prices are largely due to the fact that name-brand drug manufacturers have few restrictions on how much they can charge for their products. Additionally, name-brand manufacturers are able to monopolize the manufacture of their drugs because patent laws prevent other manufacturers from using the formula of these drugs for two decades. To combat these high prices, this Note proposes a partnership between telemedicine companies and online pharmacies that promotes the prescription of cheaper, generic-brand drugs. By combining the cheaper, mobile services of telemedicine with generic-brand drugs offered by online pharmacies, this partnership can increase access and quality of healthcare while driving down price.
Thomas P. Kelly,
PHARMACEUTICAL DRUG PRICING: THE INTERNET AS A SOLUTION FOR THIS HEALTH ISSUE TURNED FINANCIAL ISSUE,
14 Brook. J. Corp. Fin. & Com. L.
Available at: https://brooklynworks.brooklaw.edu/bjcfcl/vol14/iss1/9