WHY ARE DRUGS USED TO TREAT RARE DISEASE SO EXPENSIVE?

Medications for rare diseases can be expensive, not because they contain unique ingredients, but because of the lengthy and costly process of developing and producing them. Here's a simple explanation, even for teenagers: Creating a new medication takes 10-15 years and is expensive. Scientists research how a disease works and test ideas. Medicines for rare diseases are costly due to the long development process. New medications require extensive testing, leading to increased costs. Rare disease drugs are expensive due to limited patients and the need to recover research investments. 3. The Rarity of the Disease Rare diseases affect a small number of people. This means that the medication will only be used by a small patient population, so pharmaceutical companies can't sell the medicines in large quantities to "recoup" their investment in research and development. The prices of these medications are high to cover their costs and make a profit. 4. Exclusivity When a company develops a new medication, it often receives a patent that gives it the exclusive right to sell it for several years. This means no competition could lower the medication's price. Exclusivity is essential because it incentivizes companies to invest in research drugs for rare diseases, but it also means high patient prices. 5. Regulation The approval process for a new medication is strictly regulated and requires extensive documentation and testing, which further increases costs. So, the high cost of medications for rare diseases is not due to rare or magical ingredients but reflects the vast costs and risks that pharmaceutical companies undertake while developing these medications. Additionally, the limited number of patients and the need to recover investments in research and development make these medications expensive. Let us consider an example. More than a billion people can use a single headache medicine, which indicates that the production, sales, and earnings will be much higher. Conversely, a therapy for a rare disease can only cater to around 40,000 individuals worldwide at best. To compensate for the costs invested in drug research for decades.