US to Allow Prescription Drugs from Canada
[Headline from DRJ]
US to set up plan allowing prescription drugs from Canada:
The Trump administration said Wednesday it will set up a system to allow Americans to legally import lower-cost prescription drugs from Canada, weakening a longstanding ban that had stood as a top priority for the politically powerful pharmaceutical industry.
Health and Human Services Secretary Alex Azar made the announcement Wednesday morning. Previous administrations had sided with the industry on importation, echoing its concerns that it could expose patients to risks from counterfeit or substandard medications.
Azar, a former drug industry executive, said U.S. patients will be able to import medications safely and effectively, with oversight from the Food and Drug Administration. The administration’s proposal would allow states, wholesalers and pharmacists to get FDA approval to import certain medications that are also available here.
This likely won’t impact those who take generic drugs but the article says it could help cancer and Hepatitis C patients and diabetes patients who take insulin.
Secretary Azar “credited President Donald Trump for pushing the idea.”
— DRJ
Elijah Cummings hurt most. If I remember correctly from the Martin Shkreli farce, he is big recipient of Big Pharma money.
nk (dbc370) — 7/31/2019 @ 7:12 amThis is great news.
This will impact even generic drugs as well. It’ll take about a year for any savings to manifest from the downward pressure, but it’s coming.
Trump deserves credit for this one as I remember past administrations (all the way back to Bill Clinton) tried to do this.
whembly (51f28e) — 7/31/2019 @ 7:51 amFree trade in prescription drugs.
NJRob (04b998) — 7/31/2019 @ 11:17 amSo, um, why are cheap imported drugs good, and cheap imported food, steel, cars, electronics, labor and everything else bad?
How will this affect American workers in the pharmaceutical and related industries?
Dave (1bb933) — 7/31/2019 @ 11:36 amTrump importing Canadian drugs while the Dems are seeking to import Canadian wait times…..
harkin (92ce59) — 7/31/2019 @ 12:25 pmThis would theoretically cut what I spend on my prescriptions by about 90% because the generic is available in Canada but not in the US. It it actually does that, Donald Trump would have done more for me than any other politician.
Of course, the real reason US prices are so high is the way in which the drug companies manipulate the patent and FDA approval process. The reason the drug I take is priced so high is because Shire, the manufacturer, has an agreement that would allow a certain company to bring the generic to market with Shire’s help (providing data for the approval process) if another company ever does the same (but not until then)–effectively wiping out the incentive for a rival company to ever produce their own version of the generic (since they would have to get FDA approval all on their own).
kishnevi (36aee7) — 7/31/2019 @ 12:26 pmHow will this affect American workers in the pharmaceutical and related industries?
Perhaps not all that much. For one thing, a lot of prescription drugs are already manufactured overseas. (IIRC, the one I take is manufactured in Ireland.)
kishnevi (36aee7) — 7/31/2019 @ 12:28 pmwell they have 1/10th our population, so I don’t see the real practical utility of this exercise,
narciso (d1f714) — 7/31/2019 @ 12:30 pmIt would save me (in theory) about $4000-$5000 a year. It would have real utility for me.
kishnevi (36aee7) — 7/31/2019 @ 12:34 pmWhat a racket. Same manufacturers. Just cut the cost in the states.
DCSCA (797bc0) — 7/31/2019 @ 12:36 pm“Of course, the real reason US prices are so high is the way in which the drug companies manipulate the patent and FDA approval process. The reason the drug I take is priced so high is because..”
It’s not just prescription drugs.
As long as caregivers are allowed to charge $30 for a Tylenol or $150 for a pillow, the problem will not be solved. All we’re doing is shifting who pays the extortion from the patient/insurance to the taxpayer.
Same with higher ed, they’ve been charging way too much and now most of the Dems think the debt for student loans needs to be shifted to the taxpayers to buy votes.
harkin (92ce59) — 7/31/2019 @ 1:28 pmHarkin, well said.
NJRob (04b998) — 7/31/2019 @ 2:23 pm