What is the root cause of the shortage and what is being done to address them? Is it a regulation problem or an evil corporation problem?
In: Economics
No it’s a commercial/marketing problem. BTW, there are chronic shortages of many types of medications, which you’re probably unaware of.
Some corporations have patents over their drugs. They are monopolies that regulate their output to maximize profits. Sometimes will even stop making a specific drug, switching manufacturing to more profitable medications.
Most drug manufacturers are monstrous multi national corporations that eliminated their smaller competitors from the marketplace. Now, they can raise prices as they wish.
Currently there is shortage of some diabetes medications. They stopped making them and nobody can force them to continue (or increase) the output.
Ironically, cheaper generic medications are also off the shelf! The low price makes them unprofitable to produce. The manufacturers shifted production lines to other, more profitable drugs.
Among cheap medications in short supply: nose spray, dermatological hair shampoo, Robitusin (cough syrup), even sterile hand wipes….These items were in abundance in every pharmacy in the past.
Edit: on top of that, some major retail chains in US are in deep trouble. Among them Rite Aid and CVS. They are also causing shortages and confusion, refusing to keep stock of any item that doesn’t sell like crazy.
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