Drug Imports May Become Legal in U.S. Under Obama, McCain Plans
By Tom Randall
March 4 (Bloomberg) -- Americans may soon be able to buy cheap drugs imported from other countries without fear of breaking the law, now that a five-year push in Congress for new rules has gained support in President Barack Obama’s budget.
A proposal to allow drug imports was introduced today by Senator John McCain, an Arizona Republican defeated by Obama for the presidency, along with Democratic Senator Byron Dorgan, of North Dakota, and Republican Senator Olympia Snowe, of Maine. Obama called for the changes in his budget last week, and views the measure as one way to reduce health-care costs so that medical coverage for the uninsured can be expanded.
Brand-name drugs in other countries cost as much as 70 percent less than in the U.S. Allowing imports would save Americans $50 billion over the next decade, including $10 billion for the U.S. government, the lawmakers said. Dorgan and Snowe previously introduced similar legislation opposed by the pharmaceutical industry and former President George W. Bush.
$50 billion? That's based on all consumers paying retail prices at the drugstore and presumes a significant increase in the amount of consumption of imported drugs paid at the difference in retail prices...
Sorry but the reality is that every drug importation program at the state level has been a failure. Meanwhile the threats to the safety of medicines have grown.
Randall claims that a " 30-pill prescription of 20- milligram doses ( Lipitor) costs $124.99 at the U.S. site, compared with $60.78 from Canada.
Not exactly. The internet sites CLAIM they are Canadian but the drugs from such countries as Turkey and Singapore. Meanwhile HealthCanada will not guarantee the safety of medicines brought through Canada and resold into the states.
Meanwhile, the legislation would force companies to sell their drugs to foreign wholesalers at the government set price in any amount they want. Imagine if McCain or someone else introduced legislation forcing car companies to re-import cars made in China at the Chinese market price.
http://www.bloomberg.com/apps/news?pid=20601103&sid=abzWU.GPNrjc&refer=us
