If Americans could legally access prescription drugs outside the United States, then drug companies would be forced to re-evaluate their pricing strategy.
Sentiment: NEGATIVE
I've always considered making it legal for Americans to import their prescription drugs a free-trade issue. Imports create competition and keep domestic industry more responsive to consumers.
In every country except - industrial country except the United States, the government uses its massive purchasing power to negotiate drug prices. That's one of the reasons prices are so much higher in the United States than in other countries.
While American taxes pay for much of the research and development that goes into creating the new, life-saving drugs, American consumers continue to subsidize the cost of the drugs for consumers across the world.
I'd never have guessed that, six years after Medicare introduced a drug benefit, it would still be forbidden to negotiate prices with pharmaceutical companies. Health reform might fix that, but it probably won't.
It is incomprehensible that drug companies still get away with charging Americans twice as much, or more, than citizens of Canada or Europe for the exact same drugs manufactured by the exact same companies.
The goal of re-importation is to provide American consumers with access to drugs at the world market price - not the inflated price now paid only by Americans.
Indeed, we must foster cost-saving competition. And that means joining the marketplace of other industrialized countries - not just for the manufacturers who sell drugs, but for consumers as well.
America is one of few advanced nations that allow direct advertising of prescription drugs.
While I recognize the great value and importance of prescription drugs and strongly support a continued U.S. focus on pharmaceutical research and development, our nation's seniors cannot be asked to subsidize the drug costs of other wealthy industrialized nations any longer.
The United States is the only advanced country that permits the pharmaceutical industry to charge exactly what the market will bear, whatever it wants.