Poverty is one of the main reasons for high mortality rates in third-world countries. Unable to afford expensive drugs for the treatment of curable diseases is quite common in underdeveloped nations, especially if one is not blessed financially. However, should major pharmacological companies, such as Pfizer, provide special aid by reducing costs of treatments in such countries? The answer to this may be quite complicated.
The drug industry is one of the most profitable industries in today’s market. Due to the high mark-up values on each tablet sold in pharmacies world-wide, these companies are able to rack up billions, if not trillions, of dollars in profit annually. Therefore, the idea of discounted prices of common medications for the less fortunate seems like a logical solution. Lowering prices helps not only the patients directly, but also the health organizations and the world population in general. If everyone has access to treatments of contagious diseases easily, the spread of causative agents of such diseases would be minimized. This would result in less people getting sick which in turn allows reduction of mortality rates and a safer, healthier society.
On the other hand, the significant differences in prices across borders creates major international problems. Many patients would travel to poorer countries just for the treatment of their illnesses at a discounted price. In addition to this, price differences carry a risk of illegal, black market trade and sale. Other crimes such as smuggling across borders would rise. Investigative authorities are working day and night to combat these illegal activities and facilitating these activities would only make the matter worse.
To sum up, I do believe that drug companies should reduce prices in third-world countries despite the negative consequences this may entail. However, the benefits outweigh the risks. These companies earn far too much and doing so would only be right.