The attached article was published on September 20, 2015 in The New York Times. The main focus of this article is the trade-off the commercialization of drugs and discusses how a drug had increases in prices from $13.50 a tablet to $750 a tablet.

The attached article was published on September 20, 2015 in The New York Times. The main focus of this article is the trade-off the commercialization of drugs and discusses how a drug had increases in prices from $13.50 a tablet to $750 a tablet.

Discuss the economics associated with increasing drug prices in this manner? Who benefits and who losses out? Are these increases justified? Why or why not? There may be some terms or concepts in the article that have not discussed in the class. It is the responsibility of the student to look-up and familiarize themselves with terms they may not understand. General instructions: Students have one week to complete a short take-home essay on a current event newspaper article randomly assigned during the semester. The essay should shortly summarize the economic question, state why the question is important, and what is the underlying economics behind the issue discussed in the article. You are not asked to summarize the article, but instead discuss economics behind the topic discussed in the article. Grades are determined based on grammar and the ability to clearly communicate the economics behind the article. The student should not put their opinion into the essay but only state the economics behind the article. The short essay is to be no longer than one page length, times new roman, font size 11, 1 ½ times spaced, and one inch margins. Only essays that only meet all of these criteria will be graded. Assignment 2: The attached article was published on September 20, 2015 in The New York Times. The main focus of this article is the trade-off the commercialization of drugs and discusses how a drug had increases in prices from $13.50 a tablet to $750 a tablet. Discuss the economics associated with increasing drug prices in this manner? Who benefits and who losses out? Are these increases justified? Why or why not? There may be some terms or concepts in the article that have not discussed in the class. It is the responsibility of the student to look-up and familiarize themselves with terms they may not understand. Drug Goes From $13.50 a Tablet to $750, Overnight – The New York Times Page 1 of 5 http://nyti.ms/1V3cJvC BUSINESS DAY Drug Goes From $13.50 a Tablet to $750, Overnight By ANDREW POLLACK SEPT. 20, 2015 Specialists in infectious disease are protesting a gigantic overnight increase in the price of a 62-year-old drug that is the standard of care for treating a life-threatening parasitic infection. The drug, called Daraprim, was acquired in August by Turing Pharmaceuticals, a start-up run by a former hedge fund manager. Turing immediately raised the price to $750 a tablet from $13.50, bringing the annual cost of treatment for some patients to hundreds of thousands of dollars. “What is it that they are doing differently that has led to this dramatic increase?” said Dr. Judith Aberg, the chief of the division of infectious diseases at the Icahn School of Medicine at Mount Sinai. She said the price increase could force hospitals to use “alternative therapies that may not have the same efficacy.” Turing’s price increase is not an isolated example. While most of the attention on pharmaceutical prices has been on new drugs for diseases like cancer, hepatitis C and high cholesterol, there is also growing concern about huge price increases on older drugs, some of them generic, that have long been mainstays of treatment. Although some price increases have been caused by shortages, others have resulted from a business strategy of buying old neglected drugs and turning them into high-priced “specialty drugs.”

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The post The attached article was published on September 20, 2015 in The New York Times. The main focus of this article is the trade-off the commercialization of drugs and discusses how a drug had increases in prices from $13.50 a tablet to $750 a tablet. appeared first on My Nursing Paper.

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