High prices, combined with out-of-pocket medical expenses, can hamper access to treatment, with potentially catastrophic consequences for patients. In May 2019, the Minister in the Department of Prime Minister Datuk Seri Najib Razak said that the Ministry would use external reference prices as a benchmark for drug prices in Malaysia, selecting three lower prices and using them to determine a maximum price.
From 26 to 28 April 2019, the Malaysian Pharmaceutical Society (MPS) held its annual general meeting under the motto "Strengthening pharmacists in a new health landscape."
In the speech that accompanied the launch, President Trump blamed a "broken system" and "special interests" for high prices, including the pharmaceutical industry, the US government, pharmaceutical companies, and the pharmaceutical industry.
Drug experts, however, were quick to point out that the president's actual policy proposals did not require a change in behavior from the pharmaceutical industry and would do little to lower prices. The pharmaceutical industry has made a fortune by raising the prices of drugs that are critical to the health of millions of people in the United States and around the world.
As the federal government tries to address these issues, Big Pharma has shown that it will use its considerable resources to lobby against reform efforts perceived as threatening its outcome.
The extent to which the market is allowed to set drug prices is a problematic issue and the systems for differential prices should recognize this. Yet we cannot ignore the growing burden of the high cost of prescription drugs on the health system. When generics for private prescribers cost twice as much as their retail counterparts, expensive drugs should not be dismissed as a problem of inappropriate prescribing.
The Malaysian government is promoting the growth of the pharmaceutical industry, and purchasing outlets in Malaysia must use such evidence effectively in their pricing decisions.
Public involvement in drug pricing is necessary because the financing and supply of medicines can be left entirely to the market economy in order to achieve public health objectives. While Malaysia does not have a price control mechanism for medicines, drug prices are regulated in other countries.
Malaysia's pharmaceutical market is dominated by prescription drugs, which account for more than 80% of the total market value of all medicines in the country. Leaving market forces to determine prices leads to higher prices and higher costs, and state participation is not necessary.
Public sector procurement is a mix of volume-based national procurement, where the government covers the costs and patients receive their medicines for free or at a small fee.
Drug prices in Malaysia are demonstrably high compared to international reference prices. The report also notes that a wide range of drug categories examined are being studied by innovators, brands, and generics. It has been observed that drug prices for some medicines, such as antibiotics, anti-inflammatory drugs, and anti-cancer antibiotics, are high in Malaysia.
Although Malaysia does not control the price of medicines, market failure is expected if the information available is coupled with the pharmaceutical industry's monopoly and patent protection. Malaysia practices a free market for drug prices, and private hospitals, clinics, and even pharmacies, which can determine the final sale price and influence price increases across the board, are allowed to reduce the cost of generic medicines.
It is also important to understand the complexity of the problem, and the pros and cons of cost-control mechanisms should be evaluated when Malaysia proposes to ensure affordable health care. This is an issue that was debated during the last parliamentary session, especially after the government put forward a proposal to maintain drug prices at a reasonable level of competition.
In principle, it is necessary to introduce a price control mechanism in the form of a tax on the sale of generic medicines in Malaysia and the introduction of price controls in other countries.
However, because of the affordability of generics, the drugs of certain innovators remain too expensive for the majority of the population. These drugs are widely available in countries such as the United States, Canada, Australia, New Zealand, Japan, and Australia.
This is particularly true for the treatment of patients and the general population, with generics used to treat chronic diseases such as diabetes, heart disease, cancer, and cardiovascular disease.
Recent work on drug pricing in local environments suggests that drug prices and affordability are closely monitored. It is also crucial that consumers are not unduly paid for generic medicines in the local area.
Recent research by Malaysia's National Medicines Policy (MMPP) also suggests the need to ensure price monitoring, and this study was conducted in the context of this study. The study compared drug prices in Malaysia and other countries in Asia, Europe, and the Middle East and North Africa (MENA).
It aimed to compare prices of innovators and generic drugs and to estimate the affordability of vital medicines in Malaysia's private sector.
No comments:
Post a Comment