Depends on Canada
A PDN article on Aug. 1 reported that the Trump administration announced on Wednesday “it will create a way for Americans to legally and safely import lower-cost prescription drugs from Canada.”
Instead, the U.S. government should adopt laws and regulations that allow Medicare and Medicaid to negotiate with pharmaceutical companies for the lowest price it can get.
It should require price increases to be no more than the rate of inflation unless the manufacturer justifies it based on production, marketing, and research and development costs.
The government should put reasonable limits on the life of a patent before generics may be sold, but allow a fair return on investment.
The Trump administration can spend time and taxpayer money revising U.S. regulations so Americans can get drugs from Canada, but it is unlikely the Canadian government will allow it.
Their job is to protect the interests of Canadian consumers, not that of American consumers.
It’s a basic principle of economics that increases in demand cause price increases or shortages.
On July 31, Canada’s Global News reported that, “Last week, the 15 groups representing patients, health professionals, hospitals, and pharmacists warned Health Minister Ginette Petitpas Taylor of the potential for increasing drug shortages in a letter.
The Canadian medicine supply is not sufficient to support both Canadian and U.S. consumers … The supply simply does not, and will not, exist within Canada to meet such demands.”
David Tonkin,
Port Townsend