Posted on 07/31/2019 4:01:46 PM PDT by Poison Pill
Trump is working on a proposal that would allow the U.S. to import drugs from Canada, HHS Secretary Alex Azar says.
“Working on a plan on how we can import drugs safely and effectively from Canada so the American people get the benefit of the deals that pharma themselves are striking with other countries,” he says.
(Excerpt) Read more at cnbc.com ...
The Canadian drug market is far from “free”. The “PMPRB” sets prices on drugs so Canadians get subsidized on drug cost by Americans. Reimportation solves nothing...they cost what they cost...reimportation just shifts the cost around.
https://www.canada.ca/en/patented-medicine-prices-review.html
https://www.healthaffairs.org/doi/full/10.1377/hlthaff.20.3.92
And before anyone starts with “drug company price gouging!”....their net margins are about 10%...far less than railroads, banks, computer companies, software companies, etc., etc..
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/margin.html
WOW! Didnt see this coming. I didnt think anyone would ever stand up to big pharma.
Insulin was developed in Canada in 1922. It is still almost exactly the same product as it was originally.A vial of insulin costs pennies to produce and sells for $30.00 in Canada. That same vial is $300.00 if it is made in the US.
Americans are dying because they can’t afford insulin.That’s criminal.
Price controlled/socialized in Canada, so Americans pay $70. for it in America to compensate. Not exactly a ripoff. If not govt. socialized/price-controlled in Canada would be cheaper in the USA.
Actually Canadian socialized medicine price controls are not getting the best deal!
Here is an intermediate-acting/lasting form of insulin for $25.00 in the good ‘ol USA:
https://www.goodrx.com/novolin-n
More info on $25.00 insulin in the USA:
Kinda reminds me of the “EpiPen outrage” when there was another brand of epinephrine “pen delivery” device available for 1/3 the price (2 for $110.)....but nooooo the outrage!!
https://www.goodrx.com/epinephrine-adrenaclick
Canada has 1/10th of the population of America so how would that more than double the price in America?
If you can buy insulin for $70.00 why are people paying $300.00 for it?
Less subsidization of Canadians = lower prices for Americans. But you are right, not “half” (or “double”). Insulin prices start at $25.00/vial in America...with prices into the hundreds for specialized/patented “long-lasting” versions and versions supplied in special single use injector pens. But basic Canadian-invented insulin in a vial for reg. needle injection like you pointed out is only about $25.00 for 10m/l-100 units here in the USA.
https://www.goodrx.com/novolin-n
The story you heard originated with lefties like Bernie who twisted the facts...the price range for insulin in America RANGES from $25. to $300’ish for specialized/patented stuff in a specialized “pen”. So in Canada it probably ranges from $30. to $200 or something with Americans subsidizing the Canada price down to $200. from $300.
For more info. see:
https://sharylattkisson.com/2019/07/what-many-diabetics-dont-know-you-can-buy-inexpensive-over-the-counter-insulin-in-u-s/
Ironic - maybe canada gets them cheap enough they can sell thm back to us at a profit and Americans still get a better deal than what the drug companies give us...so they can provide discount the Canadians...
Patents aren’t part of a “free market” either. The entire patent system needs to be reformed for pharma or have a maximum markup % during the patents life. Drug cost increases have averaged more than double the rate of inflation since 1960. A free market wouldn’t have that happen.
And the 10% margins are like 80% in the US and 2% everywhere else. The US is subsidizing the world.
True, but these are the same Chinese generics we are already getting. The same generics with the cancer causing agent in them, no control on strength of main ingredient.
As a Hypothyroid patient there is a HUGE difference in Name Brand over Generic. 30% less hormone in the generic. Reputable Endocrinologist won’t use generics because of that and some nasty side effects.
How about they find a way to give unused sealed medication to a Charity health care program? Some of these meds are expensive. And all we can do is toss them out. Now they want you to recycle the prescription bottles after you remove the label.
Canada like the USA sets negotiated prices in their Government programs. Medicare, Medicaid, VA, Tricare Prime/Life are all PRE SET right down to hospital stays, cost of a IV, and your pillow..Yes you pay for that pillow you sleep on in the hospital. They are thrown away if you don’t take them home. And every program Over Pays for them.
End TV commercials for prescription drugs. If you need Predisone ask for loose ones, $4.00 vs the Blister Pack $50. The Blister Pack is made by a different company, and many people find them hard on the GI tract vs the loose pills. Only a complete idiot can’t do a step down of this medication. The cost of any med in a blister pack is more than Loose pills in a bottle.
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