An agreement was made between the countries who are part of the World Health Organization (WHO) to make an effort in pushing for the transparency in the pricing of drugs after the resolution’s effort was weakened which demanded the pharmaceutical firms reveal the actual cost of prices they incur while the manufacturing of the medicines.
According to the deal, Government has been called to disclose with the public the prices they have to pay for the drugs which can be varied greatly around the globe and are often covered in secret.
It was welcomed as a milestone by the Chief of the World Health Organization ‘Tedros Adhanom’ and also hailed with enthusiasm by the United States, which had previously supported the making of price clear resolution while side by side allowing the firms to preserve the cost of the research a secret.
However, some countries inclusive of Japan, Britain and the Germany who have their healthcare system depends on the negotiation of sharp discounts from the companies which manufacture drugs in order to keep their expense low, stated that this debate has taken heat way too quickly and called for the close examination and study of the issue.
Gaelle Krikorian who works at medical charity ‘MSF’ named the resolution a ‘first step to welcome’. However, she said that there was a need to go beyond the surface and force the drug companies to reveal more.
She further passed the following statement: “We should be knowing the mark-up which is the profit margin, the cost of production, expenses incurred on the clinical trials, and how much investment has been actually covered by any company, how much amount is underwritten by the non-profit groups as well as the taxpayers.”