Blinded by convenience
I was down with a URTI (Upper respiratory tract infection) since last week. I tried to save a few bucks by treating myself with some OTC (Over the counter) drugs. It turned out that after a few things that I had not noticed when I was shopping for medication.
The price of drugs in the pharmacy is more expensive than a supermarket if they are run by the same company. The difference is not noticeable but it is enough for me to consider price discrimination. You may be price sensitive when shopping for groceries but less sensitive when looking for medication. In the pharmacy, you get to compare more drugs but the company doubts that you have the energy to walk to its supermarket to compare prices. (The pharmacy was about 15 metres away from the lozenges aisle.)
The next thing that some drug company like to do is to slap a label on their drug claiming it does more. Sunblocks and sun cream cost the same to produce no matter the SPF. But the higher the SPF, the higher the price. A generic pain killer can be used to treat any pain. Slap a label claiming that the same medication has migraine pain killing ability and you get to charge a higher price.
Another trick is to add a new component and claim that their drug is now able to fight two illnesses/symptoms at the same time. This looks quite credible except that it is just a trick to lend its brand name to a drug with a little enhancement. If the drug was truly revolutionary, it would have been patented and certainly not sold over the counter. I know that honey has a certain anti-bacterial effect. Wouldn't I be a genius to add it to all medication? If only new medicine was so easy to produce.
But you are sick and are looking for relief, right? You are not going to try and save a few cents on your health, are you?
The price of drugs in the pharmacy is more expensive than a supermarket if they are run by the same company. The difference is not noticeable but it is enough for me to consider price discrimination. You may be price sensitive when shopping for groceries but less sensitive when looking for medication. In the pharmacy, you get to compare more drugs but the company doubts that you have the energy to walk to its supermarket to compare prices. (The pharmacy was about 15 metres away from the lozenges aisle.)
The next thing that some drug company like to do is to slap a label on their drug claiming it does more. Sunblocks and sun cream cost the same to produce no matter the SPF. But the higher the SPF, the higher the price. A generic pain killer can be used to treat any pain. Slap a label claiming that the same medication has migraine pain killing ability and you get to charge a higher price.
Another trick is to add a new component and claim that their drug is now able to fight two illnesses/symptoms at the same time. This looks quite credible except that it is just a trick to lend its brand name to a drug with a little enhancement. If the drug was truly revolutionary, it would have been patented and certainly not sold over the counter. I know that honey has a certain anti-bacterial effect. Wouldn't I be a genius to add it to all medication? If only new medicine was so easy to produce.
But you are sick and are looking for relief, right? You are not going to try and save a few cents on your health, are you?
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