Health & Fitness
Has your pets medication cost gone up? Here's why!
There are many reasons why some medications have recently gone up in price in the veterinary field. Read on to find out why.
The veterinary community has been experiencing drug shortages, and drug prices increases from manufacturers at rate never before seen in our industry. Common drugs that have been around for decades, and previously were very inexpensive, are now difficult to get, and when available often reintroduced at a much higher price. Veterinarians are asking, why? Below is a list of reasons provided by a representative for Henry Schein Animal Health:
Here are the most commonly cited reasons for increased prices and shortages:
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1)Supply and demand
2)Raw material cost increase
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3)FDA compliance issues leading to factory shutdowns
4)Manufacturing facilities reaching their maximum capacity
5)Fewer manufacturers: When several suppliers exit a market and only one or two manufacturers are left, the remaining manufacturer can increase price without concern for a competitive response.
6)Many companies are shifting their manufacturing overseas. Some overseas facilities have failed FDA compliance. Also, shipping and customs issues have led to significant product delays.
7) With fewer generic manufacturers, shortages are more likely to occur. This is especially true in the sterile injectables market where there are only seven active manufacturers. Six of these manufactures have been cited by FDA for recent violations. Supply of injectables and fluids will be an ongoing challenge this year.