An Average 236% Price Increase Occurred In Lebanon Between 2017-21
Understanding the Most Expensive Drug in the Black Market
With a recommended dosage of 300 mg every two weeks, the yearly costs add up to more than $755,000. Medicare part B, the government drug benefit that covers hospital-administered drugs, covers Hemgenix. From July 2021 to July 2022, the list prices of more than 1,200 drugs spiked by an average of 32 percent.
The black market for drugs operates outside legal frameworks, often involving high risks and escalating costs. Among the vast array of illicit substances, one drug has gained infamy for its exorbitant price—this is the most expensive drug in the black market.
What Defines the Most Expensive Drug?
Geometric means and 95% confidence intervals were calculated for comparing prices per milligram of drug in US dollars. In a secondary analysis, we compared prices per milligram of morphine equivalent using standard equianalgesic dosing conversions. In this issue brief, we look at which outpatient prescription drugs were most expensive to Medicaid in 2014 and 2015 and explore why. Prices have been declining in states’ recreational marijuana markets, and it would be tough to argue illicit market prices would increase substantially while states’ legal market prices were dropping. From the most recent publicly-available data from DEA through the end of 2016, cocaine and meth prices were decreasing. Other indicators of cocaine and meth use were up in 2017, which suggests prices might have increased.
For example, Colorado’s legal marijuana industry has brought in over one billion dollars in tax revenue to the state since it abandoned prohibition. A portion of the tax revenue generated by a legal cannabis industry could be earmarked for police agencies, correctional facilities, drug rehabilitation centers, and crime prevention programs. One of the pharmaceutical groups that lobbied for the amendment, Alexion, makes one of the most expensive drugs in the world — it costs $500,000 per year — to treat rare blood and kidney diseases. Under the 1983 Orphan Drug Act, the FDA encourages pharmaceutical companies to research and develop drugs to treat rare diseases — dubbed orphan drugs — with seven years of market exclusivity. A smaller number of the 50 most costly drugs (17) are both frequently prescribed and expensive prescriptions.
When discussing the most expensive drug in the black market, several factors contribute to its high price point, including:
For example, most insurers rely on middlemen to negotiate deals with drugmakers that in turn dictate which drugs get covered and what patients pay at the pharmacy counter. But those middlemen have their own profit motives and have been known to give favorable coverage to a more expensive drug if its manufacturer offers them a lucrative deal. Humira, the injectable biologic treatment for rheumatoid arthritis, now faces its first competition from one of several copycat “biosimilar” drugs expected to come to market this year. Pharmacies offer other targets for cyber criminals as well, including employee data and financial assets. Ransomware programs can be introduced into any computer system, often by opening an infected email attachment.
Despite increased health warnings and crackdowns on the tobacco industry, in the United States, Americans who are 21 years of age or older can purchase nicotine and tobacco products. Unfortunately, it is all too common for these products to also end up in the hands of minors. A 2018 National Survey on drug use and health showed that 55% of individuals 12 or older have tried cigarettes in their lifetime, while over 17% of those same individuals had tried cigarettes in the past year. Not to be confused with heroin, fentanyl has made a name for itself due to being the synthetic (fake, man-made) version of heroin. Illicit fentanyl is the leading cause of the increase in U.S. overdose deaths and has contributed to more American youth deaths than heroin, meth, cocaine, benzos and Rx medications combined.
- Scarcity: Rare drugs that are hard to obtain will naturally cost more.
- Demand: Substances that have a high demand among users tend to be more expensive.
- Risk: Drugs that involve significant legal risks and potential penalties can have inflated prices.
- Production Costs: Complex production methods may drive up the price of certain substances.
No “stealth listings” (unsearchable and unlinked listings that are accessible only by buyers who have been given the URL) were scraped. In 2022, the monthly healthcare budget for Lebanon underwent a dramatic decrease from $120m to $35m. A consequence of this steep alteration in budget was the price reform that followed in May. The Ministry of Health’s (MoH) new pricing strategies would free up funds to import expensive cancer treatments and maintain their availability on the market.
And there’s nothing wrong with this promise – a blackmarket designed to facilitate the sale of an illegal substance should dissipateas that substance becomes legalized. This destruction of the illegal marijuana marketmakes logical sense – so much so that it became one of the primary argumentsused by pro-legalization politicians to promote the drug. So now, years afterthe first legalization of recreational cannabis in 2012, the illegal marketsshould be fading into obscurity. States engaged in total war or other large-scale, extended wars often impose restrictions on use of critical resources that are needed for the war effort, such as food, gasoline, rubber, metal, etc., typically through rationing. A black market then develops to supply rationed goods at exorbitant prices.
Examples of Expensive Drugs on the Black Market
Some of the most notable substances that have secured positions as the most expensive drug in the black market include:
- Carfentanil: An analog of fentanyl, often used as a tranquilizer for large animals, its potency means it can sell for up to $60,000 per kilogram.
- Gold Flake MDMA: This luxurious variation of ecstasy infused with gold dust has been known to fetch prices upwards of $30,000 per kilogram.
- LSD: High-quality acid can cost around $3,000 per gram or more, depending on purity and demand.
The Risks of Black Market Drugs
Purchasing the most expensive drug in the black market comes with inherent risks, including:
- Legal consequences: Possession and distribution of illegal substances can lead to severe penalties.
- Health risks: Without regulation, the quality and purity of these drugs remain uncertain, leading to potential overdoses or adverse reactions.
- Financial loss: Investing in high-priced drugs can lead to significant financial hardship with little to no return.
- More often than not, an 8-ball is purchased for the use of multiple individuals.
- “It may be five years down the road, and COVID is a distant memory, and then it is used for FIP,” Weigner says.
- Throughout the history of the practice used by the NYPD, the overwhelming majority of people stopped-and-frisked were young black and Hispanic men.
- Another in Britain was supplies from the U.S., intended only for use on U.S. army bases on British land, but leaked into the local native British black market.
FAQs about the Most Expensive Drug in the Black Market
What is the most expensive drug currently?
Carfentanil, known for its extreme potency, is often cited as one of the most expensive drugs in the black market.
Why do prices fluctuate so much for black market drugs?
Prices can vary due to factors such as law enforcement crackdowns, changes in supply and demand, and the regional availability of particular substances.
How can individuals protect themselves from the dangers of buying black market drugs?
Avoiding the black market altogether and seeking help for substance use disorders through legal and medical channels is the best way to mitigate risks.
Conclusion
The world of black market drugs is fraught with danger and uncertainty. The most expensive drug in the black market serves as a stark reminder of the high costs—financially, legally, and personally—of engaging in this underground economy. Understanding these elements can aid individuals in making informed choices about substance use and its consequences.
