Steps Drug Industry Taken Address Rising Drug Costs Consumers Q34272817

What steps has the drug industry taken to address rising drugcosts for consumers?

Expert Answer

Answer: Following steps the drug industry could take to addressrising drug costs for consumers as below

• Increasecompetition: In order to lower down the price of the drugsin the market, one needs to increase availability of competitivedrugs in the market so that it will increase the competition andhelp in controlling or lowering the price of drugs.
• Government Supportin Competitive Medicine Approval: Government to executespeedy support in approving the competitive proposed products ofdrugs so that the government approval lead time of the drugs islower and competitor ca speedy
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