Are Medicines and Healthcare Going to be Out of Reach Soon?
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2 months ago
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In a nation once proudly called the "Pharmacy of the World," medicines are becoming alarmingly expensive. Our country has over 10,500 manufacturing units and more than 3,000 companies supplying 20% of the world's generic drugs. So why is it that 70% of out-of-pocket health expenditure in our own country is due solely to medicine costs? We are producing more drugs than ever, but our own people cannot afford them. What is going on? Could free trade agreements (FTAs) be one of the hidden reasons behind rising medicine prices? Today we break down how the government's negotiations are weakening our otherwise robust pharmaceutical sector. To make matters worse, ongoing global conflicts have reduced the supply of key ingredients used in medicines, with raw material costs rising by up to 30%. Even after a ceasefire, disrupted supply chains will take time to recover. Experts now warn that medicine and healthcare costs will rise further. So what does all of this mean for your health budget? Watch as we connect the dots between FTAs, policies on generic medicines, big pharma push, and your pocket. Join The Wire's Youtube Membership and get exclusive content, member-only emojis, live interaction with The Wire's founders, editors and reporters and much more. Memberships to The Wire Crew start at Rs 89/month. https://www.youtube.com/channel/UChWtJey46brNr7qHQpN6KLQ/join
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