THE US Trump administration is paving the way for Americans to buy cheaper imported prescription drugs from Canada, reports Bloomberg.
Because Canada has stricter patent expiry limits than the US and allows generics to compete with older brand name drugs whose formulae can now be legally replicated, this has cut brand name drug prices in Canada in order to compete with generics. Thus, the same brand was priced higher in the States where generic rivals were illegal.
The administration has offered two proposals to loosen longstanding federal restrictions on importing foreign drugs. Health and Human Services Secretary Alex Azar described the effort as 'one of the highest priorities we have in the administration'.
President Donald Trump has frequently touted the idea of bringing medicine from overseas to help lower costs for Americans, saying the US pays too much for prescription drugs.
The pharmaceutical-industry lobby opposes the plan, saying it incited backlash in Canada, where some said it could lead to shortages of critical medicines.
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Because Canada has stricter patent expiry limits than the US and allows generics to compete with older brand name drugs whose formulae can now be legally replicated, this has cut brand name drug prices in Canada in order to compete with generics. Thus, the same brand was priced higher in the States where generic rivals were illegal.
The administration has offered two proposals to loosen longstanding federal restrictions on importing foreign drugs. Health and Human Services Secretary Alex Azar described the effort as 'one of the highest priorities we have in the administration'.
President Donald Trump has frequently touted the idea of bringing medicine from overseas to help lower costs for Americans, saying the US pays too much for prescription drugs.
The pharmaceutical-industry lobby opposes the plan, saying it incited backlash in Canada, where some said it could lead to shortages of critical medicines.
WORLD SHIPPING