There was an informational hearing recently in the legislature's Public Health Committee on the effect of marketing on the prices of medications. Drug prices have been growing over time, so it is important to understand why.
What is astonishing, as you can see in the slide presentation below, is just how much we pay for drugs goes to pay for advertising and marketing.
This report says that 32.8% of the price of medications we pay for goes to advertising, marketing and general administration. The report says that, by comparison only 14% of what we pay goes to drug research and development and 25.3% goes to the actual manufacturing of the medications.
Most of us have seen all of those expensive, polished television commercials promoting different drugs. It looks like we are paying, and paying a lot, for those commercials when we buy our medications.
This information is from the Prescription Project (www.prescriptionproject.org).
What is astonishing, as you can see in the slide presentation below, is just how much we pay for drugs goes to pay for advertising and marketing.
This report says that 32.8% of the price of medications we pay for goes to advertising, marketing and general administration. The report says that, by comparison only 14% of what we pay goes to drug research and development and 25.3% goes to the actual manufacturing of the medications.
Most of us have seen all of those expensive, polished television commercials promoting different drugs. It looks like we are paying, and paying a lot, for those commercials when we buy our medications.
This information is from the Prescription Project (www.prescriptionproject.org).
