Lobbying is the art of speaking, and in recent times the biggest of the pharmaceutical companies have used this art to their benefit, but not necessarily to the people’s benefit. In current times of strict price rise in pharmaceutical products, the people have shown a general dissatisfaction towards this intense price hike. There have even been calls for government induced action to reduce the prices of medicines. However, with the help of lobbying techniques companies such as Big Pharma have successfully averted any fall in prices of medical products.
In this article we look at the general rise in lobbying in the pharmaceutical industry and the affects it has on both the people and these companies.
The Rise Of Lobbying
In the last 5 years the top pharmaceutical companies have pushed their lobbying budget by almost $80 million. This is a huge rise from what was being spent just a few years back by these brands. The truth is that the current state of the world has diseases rising at an alarming rate, and this is highly profitable for the pharmaceutical companies. So, by using lobbying they have been able to maintain the dominative prices that work toward their advantage.
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Drug pricing is one of the immediate issues in the United States alongside proper Medicare and the current Trump government seems to do very little to regulate the prices. Few of the senators who had taken up the cause and tried to use judicial methods to force the pharmaceutical companies to reduce their prices have failed due to the use of intense lobbying.
What Does This Mean?
For the common people, this means costly medicine is going to remain costly. And with the current state of Medicare this further means that they might have to go without medicines in case they are affected with any long term or terminal illnesses. The prospect of this is absolutely scary for the general American population and various protests have also been witnessed against such lobbying and stringent prices.
For the pharmaceutical companies this however means big bucks. In the current capitalist condition, every brand is fighting tooth and nail to be on top and thus the use of lobbying has increased drastically. But this also has a poor effect on the companies as a general distrust towards them has been built among the common population.