Forbes March 3, 2024
2023 represented the worst year for U.S. drug shortages, and the start of 2024 has not brought relief. Currently, 122 drug shortages are threatening medical treatment for patients. Many drugs in shortage have been widely used for decades, such as Amoxicillin and Adderall. Patients in desperate need have even called manufacturers to seek access.
In well-functioning markets, shortages are uncommon. When signs of shortage emerge, such as news about a sudden surge in demand or a major production disruption, manufacturers seize these money-making opportunities—they raise prices and enhance production. By selling more at a higher price, manufacturers reap profits. The potential payoff can even be large enough to entice new entrants to invest and initiate production.
The increases in production...
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