The 360 | Can Canadian imports lower U.S. drug prices?
What's happening:
Last week, Sen. Bernie Sanders joined a caravan of people with diabetes crossing the border to Canada to buy insulin to highlight the drastic price difference of the medicine — which can be one-tenth of what it costs in the United States. A new proposal from the Trump administration could make trips like these unnecessary in the near future. The plan would allow states, pharmacies and drug manufacturers in the United States to import prescription drugs from Canada.Proponents of the idea say access to cheaper Canadian drugs would save the lives of patients who struggle to afford the medicine they need from American sellers.
The U.S. plan sparked significant concerns from Canadians worried that demand from the massive American market would lead to drug shortages or price increases in their country, despite Prime Minister Justin Trudeau's pledge to maintain a “steady and solid supply” of drugs in Canada. Others point out that the plan may not apply to some of the most expensive drugs, including insulin.
Skeptics on both sides of the border argue that the plan doesn’t address the underlying issues with the American health care system that lead to price differences in the first place. Canada's drugs are cheaper because its government uses price-control measures — something the United States could also do without intervening in another country’s pharmaceutical market, they argue.It’s unclear when Americans would be allowed to start importing medicine from Canada if the plan is put into action.
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