A new study analyzing the prices of about 550 medicines across 72 countries in 2022 reveals that people in low and middle-income countries may be paying more compared to wealthier nations for the same essential drugs.
Researchers from Brown University and the London School of Economics found that while “nominal prices” of medicines were higher in rich countries, after accounting for purchasing power of local currencies, actual prices were higher in poorer countries.
The study, published in The Journal of the American Medical Association Health Forum, shows that the typical number of doses of essential medicines consumed per person in 2022 was highest in Europe (634) and lowest in Southeast Asia (143).
For example, while prices in India were nominally low (fourth lowest of 72 markets analyzed), they ranked in the middle range after purchasing power adjustment (29th of 72).
Researchers also discovered that for most countries, the highest-priced drugs were those used for treating mental and behavioral disorders and cardiovascular conditions, while the lowest-priced products were those treating hepatitis B and C.
Regarding accessibility, the study found that people in India would need to work about 10 days at minimum wage to pay for a monthly regimen of tenofovir disoproxil. The research indicates that poorer countries face a disproportionately higher burden of medication costs.
