It is true that patients in some developing countries suffer from diseases that can be easily remedied because of the financial situations they are in. There are some individuals who hold the view that drug companies ought to set reduced prices for drugs in these countries. I do not believe that pharmaceutical companies should set lower prices for drugs, instead, governments of developed countries should subsidise some part of the costs.
There is no doubt that it would be more accessible for poorer people to medicines if prices were lower in developing countries. However, I believe that pharmaceutical companies’ profits are used for research or study of new drugs or treatments. If those companies are the ones who cover gaps in production costs and market prices in developing countries, they will lose budgets for research, which will be obstacles to advancement in medical industries.
Moreover, there would be a risk of reselling if prices were reduced in developing countries. For instance, when the coronavirus happened, cough medicines were sold out in China and some people bought counterpart products in Japan and resold them at much higher prices in China to gain margin. Which resulted in a shortage of them in Japan. A similar problem might happen in developing countries. However, I strongly believe that there should be some type of financial support for patients who cannot afford treatments. Governments of developed countries are the ones to do so. I believe that if local governments in developing countries and governments in developed countries work harmoniously, support can reach people who are in need.
In conclusion, I am not an advocate that drug companies should make their products available at lower prices in developing countries. Instead, governments of affluent countries should contribute some budgets to medical industries in developing countries and help patients in need in those countries.