The Food and Drug Administration finally approved the importation of prescription drugs from Canada to Florida last week, a long awaited move.
Florida Gov. Ron DeSantis signed a law to allow this all the way back in 2019. This move has bipartisan support, and the White House is encouraging other states to follow, and in fact Colorado, Maine, New Hampshire, New Mexico, North Dakota, Texas, Vermont and Wisconsin already have laws allowing drug importation.
President Joe Biden signed an executive order back in 2021 directing the FDA to work with the states on imports, opening the door.
The real question is: Considering that we have the highest drug prices of any developed country, how much difference will this make in bringing down prescription drug prices in the United States to a more reasonable place? The answer is that even if it's just a small step, it's a step in the right direction.
Part of the reason for this problem is the powerful drug lobbies, led by the Pharmaceutical Research and Manufacturers of America, which oppose drug importation of medications from Canada and other destinations. And they aren’t going to cease their opposition any time soon.
Multinational drug companies may try to block some of the importation, and the Canadian government may, too, considering that Canadians, like us, are suffering from drug shortages and supply chain problems, according to the Canadian Pharmacists Association.
Plus, the U.S. prescription drug market is nearly 20 times that of Canada's market, so our northern neighbor certainly cannot supply all our drug needs.
If nothing else, this move will help burst the Big Pharma myths once and for all. The prescription drugs in Canada are just as effective and just as safe, as are generic and biosimilar drugs that can be had for much lower costs and yet often face approval challenges here.
The myth that we are really paying for the high cost of drug development (while other countries clearly aren’t), will finally be burst. Why shouldn’t these costs be shared across all customers and all countries.
At the same time, artificial intelligence will speed drug development and make it much cheaper. Too much of the cost of drugs here is tied up with distribution costs, complying with FDA regulations regarding cleanliness and sterility and paying for regulatory approval, and other cogs in the wheel including pharmacy benefit managers (PBM), who suck up profit without providing clear value.
Just one fake pill can kill:She thought it was Xanax. She died of fentanyl poisoning.
I favor free-market approaches to drive down drug prices through competition, rather than increasing more regulation through direct negotiation. Medicare and Medicaid attempts to negotiate prices inevitably lead to fewer choices – which is very problematic for me and my patients – while competition leads to more choices and better health care outcomes.
This is what California Gov. Gavin Newsom is trying to accomplish by having his state produce insulin in a more cost-effective streamlined way.
For that matter, why shouldn’t states be able to import drugs from other countries like India, considering that the vast majority of our drugs (or their ingredients) come from overseas to begin with. The notion that prices are high as a way to somehow ensure quality is the greatest myth of all.
TikTok is a trap.As a doctor, I tell parents to protect their kids from social media.
Price opacity is another key part of the problem. All my patients care about is what their co-pay will be at the pharmacy, and they are not aware when a PBM or an insurance company is getting a drug company rebate.
Drug manufacturers, pharmacy benefit managers and insurance companies all rely on this opacity to obscure the exorbitant prices from the patient or their doctor. This bloat will be squeezed out of the system when drug companies are forced to compete more with generics, biosimilars, other states and other countries.
Many patients are asking me this week if they will be able to order Canadian drugs online from Florida pharmacies. While this remains to be seen, the question itself is revealing.
The United States is finally on the verge of introducing needed competition into the prescription drug market.
Dr. Marc Siegel is a professor of medicine and medical director of Doctor Radio at New York University's Langone Health. His latest book is "COVID: the Politics of Fear and the Power of Science." Follow him on X, formerly Twitter: @DrMarcSiegel
Florida now can import drugs from Canada. My patients can't wait.
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12.01.2024
The Food and Drug Administration finally approved the importation of prescription drugs from Canada to Florida last week, a long awaited move.
Florida Gov. Ron DeSantis signed a law to allow this all the way back in 2019. This move has bipartisan support, and the White House is encouraging other states to follow, and in fact Colorado, Maine, New Hampshire, New Mexico, North Dakota, Texas, Vermont and Wisconsin already have laws allowing drug importation.
President Joe Biden signed an executive order back in 2021 directing the FDA to work with the states on imports, opening the door.
The real question is: Considering that we have the highest drug prices of any developed country, how much difference will this make in bringing down prescription drug prices in the United States to a more reasonable place? The answer is that even if it's just a small step, it's a step in the right direction.
Part of the reason for this problem is the powerful drug lobbies, led by the Pharmaceutical Research and Manufacturers of America, which oppose drug importation of medications from Canada and other........
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