Respond to person 1 below in a business manner: There has been a lot of problems recently
Question:
Respond to person 1 below in a business manner:
There has been a lot of problems recently in relation to pharmaceutical prices for medications. With Mark Cuban creating his own pharmaceutical site with listed information on how much it cost to create it, how much they are marking it up, and how much it is usually sold for people are becoming more informed. They are becoming more informed about the mark up prices standard pharmacy's make on drugs. The article I linked states that this price disparity is there for more innovations to be created by pharmaceutical companies. However, their mark ups are at about 175% of the actual cost. Both locations provide equal quality products but will provide future quality of life with new medicines from pharmaceutical companies. However, the medicines that are created are sometimes kept out of reach of people because of their costs such as insulin, cancer treating drugs, etc. The pharmaceutical corporations hold such a strong hold on the world and how people are treated. The costs of drugs are so significantly increased that many people are unable to get them. This is where Cost Plus Drugs comes into play. They have a 15% markup on all medicines and just charge for shipping costs. Items prices are much lower than that of a pharmacy and it does not requires insurance. Like the Zilmax article and Tyson, the pharmaceutical companies hold great power over smaller companies and its drugs. These companies want to lower the costs at any means necessary while producing the most beef. Like the pharmaceutical industry they mark up the prices substantially for medications that are exactly the same (Name Brand vs. Generic). Decreasing the quality of a product in the long run never provides better quality for the consumer or even lowers the price they are purchasing it for. Therefore by decreasing quality and costs for the companies, the sales will eventually decrease. However, Cost Plus Drugs new way of doing things adds quality to the service provided to customers because of the low costs and convenience. The costs of name brand drugs are high with equal and exactly the same products as a lower cost for generic drugs. Pharmacy's many times will not give out the generic drug to customers because the prescription was written for the brand name drug even though they are the same and one is at a much lower cost. Overall, the quality trade off can go both ways. Pharmaceutical corporations have the ability to innovate and make changes to the future while Cost Plus Drugs is providing accessible pricing to people now for the drugs they need to be healthy.