The Rising Costs of Medication

In the past decade pharmaceutical companies around the world have been growing as a sector at rapid rates. Profit margins for these companies are reaching staggering numbers. From 2001-2002 the industry of pharmaceutics gained a 20% increase in sales. The rise of pharmaceutical companies has left much of Latin America with restricted access to medical care. Much of this industry has focused its attention and advertising to wealthier countries such as the US. They are catering to areas of the world with the greedy intention of making enormous amounts of money. In doing this, they are ignoring most Latin American counties that desperately need drugs to combat diseases that don’t necessarily occur in the US. Tropical diseases for instance are taking millions of lives in Latin America, while this concern in the western world is almost nonexistent. Ways to treat such diseases are scarce when pharmaceutical drugs are not available.


Powerful pharmaceutical companies in Latin America have begun pushing for wider patent protection and rights on their products. The effects of these measures are seen in the dramatic price increases on vital medications. Many companies want generic brands to become unavailable and are lobbying for drugs to be sold only in pharmacies. They are also marketing to other countries besides their own to push their products.

Not only would the steps taken by these large corporations increase prices, but they would also prohibit the use of plants for medicinal purposes. This practice happens to be extremely widespread in the Latin culture. Medicinal herbs have often times been a viable option for treating illnesses that are normally combated with medications.

It seems almost unbelievable that these large corporations are planning steps to increase prices and limit access to drugs when most people in Latin America live below the poverty line. Interventional measures need to be taken before drug companies monopolize and create a disastrous health environment in these third world nations.