Regulating Private Pharmaceutical Companies: Navigating the Complexities of Drug Pricing and Accessibility

This literature review examines the progressive issue of proliferating pharmaceutical prices, focusing on the challenges posed by off-patent, life-saving medications. We address the impact of monopolistic pricing strategies, specifically prices of medications distributed by private pharmaceutical companies, the ethical responsibility of ensuring access to necessary medicines, and the role of government regulations in the pricings of pharmaceutical products. Our paper highlights the need for effective and equitable policies to regulate pricing, including the involvement of pharmaceutical benefit managers, and the potential for reform through governmental intervention to ensure equal access to affordable medications.