The article by Baker brings to the understanding of the readers how the United States gives its drug companies patent monopolies on drugs of great importance to the citizens. This means that the U.S. companies enjoy the monopoly power of charging the citizens the amount they feel it’s better for them without any restriction from the Federal government on some specified medication. This issue is different from the other nations which have various restrictions to control monopoly power of drug companies.
Despite the United States move to offer such patent, the provision of drugs by the companies does not foster any improvement in the health sector. In fact, this leads to increased costs to the government making the costs of drugs in the U.S. to be more expensive than those of the nations that have some restrictions (Baker n.p). Economically, it is worth noting that giving patent monopolies to companies of specified drugs may lead to exploitation of the citizens instead of providing better health care. The companies enjoyed increased prices for their products, thus able to realize higher profits from their sales. Nonetheless, the quality of the drugs is not ensured since no competition. At the same time, the drugs become very expensive for the consumers hence unable to afford.
The government needs to focus on coming with various restrictions to assist in reducing the monopoly powers of the drug companies. In so doing, the citizens will get protection from the drug investors at high prices. Also, this will lead to enhanced quality of the products of the drug companies. Additionally, the government will be able to reduce costs associated with bad health care provisions. Controlling the issue will also help the nation to enter various partnerships with other nations, thus reducing the cost of health care (Baker n.p).
Works Cited
Baker, Dean. “End patent monopolies on drugs.” The New York Times. January 10, 2016: n.p. Web.
