Any well-knowledgeable citizen of the United States is well aware that healthcare is an inherent right. And by that, we don’t mean that it’s a luxury reserved only for the elite class who can afford chemotherapy. It is a public good which should be shared by all.
Healthcare’s democratic feature, sadly, has taken on a ridiculous reality major thanks to all the big pharmaceuticals firms. Then again, the self-depicted conservative who masters the blessings of corporatism then there is nothing wrong with the firms that profit off of people’ health.
It is part of this grand misunderstanding that has us subscribing to the idea that private research institutions & drug manufacturers are inherently good. If anything, they are far away from benign, as we can draw from recent developments.
Possibly the biggest blow that big pharmaceuticals can deal with the sector of healthcare is the fact that firms are holding up the development of more effective drugs.
The main reason why innovation has been hindered is perhaps the market for such products. Added to this is the incentive to maintain a profitable bottom line.
The money of taxpayer has been directed into research for new drugs at the command of the Food & Drug Administration. However, rather than spending the huge sums they get to the benefit of the American public, big pharmaceuticals made use of the extra funding to buy stock options while the research & innovation took a backseat, according to a Washington Post article.
This has also led to an imbalance of priorities along the lines of creating new drugs. In fact, much of the funding that these firms receive goes towards the development of drugs for diseases that are already curable.
Indeed, this obsession for greed is only the icing on top of the well-known cake that is the flawed healthcare system.