What stupidity. Here’s a clue, folks: It costs well over a BILLION dollars to research and develop a new drug. And that does not count the massive cost of lawsuits etc. Now, if the drug companies can’t make up that price tag and make a BIG profit, why would they risk it?
Anyone who does not understand that does not understand what it takes to develop a new drug, the potential liability involved, and the free market in general.
Frankly, I’m shocked that the Democra#s get it...
BTW, I do agree that it’s partially not fair that other countries’ citizens pay much less for their meds. Then again, they don’t have the sue-happy environment, byzanine FDA, and all the other related hurdles of doing biz in the US.
The answer includes the following: (1) Accept that new drugs are risky, and lessen the massive regulatory burden on bringing them to market. (2) Provide protection against insanely huge lawsuits barring intentional acts, gross (and I mean GROSS) negligence, etc.
That, or accept the cost of massive regulation, effective testing and lawsuits.
Here is what the FDA has to say about counterfeit drugs: http://www.fda.gov/oc/initiatives/counterfeit/qa.html Yes, they are going to be cheaper, but there is a good chance they either won’t help you or might actually hurt you.
One of the reasons for pricing differential between 1st and 3rd world countries is to reduce/prevent widespread patent violations and theft of intellectual property.
Those third world governments feel free to allow their corporations to violate US companies IP rights if the price is right. Differential pricing reduces the financial incentive to do so.
Sucks, but it’s the truth. Also, considering the contaminated wheat gluten coming out of China, do we really want them gearing up to produce counterfiet prescription drugs to sell to us when the border is thrown open.
Here's a solution to all the whiners: Start your own company and invent your own medications and then you can sell them for whatever price you like.
Patents are necessary. They are so fundamental that they are an actual enumerated power in the US Constitution.
btt
So when is Congress going to shut down food imports?
What monopoly?
If Americans want to see an end of all innovation and forget about any new drugs, just let this go through.
Good discussion on Pharma and “free trade”. IMO, the fact that US Pharma are forced to export at fixed prices to socialist countries and cannot seem to defend their patents against many of these trading partners is wrong.
In this case the only Free Trade is that the rest of the world gets a free ride on the back of the USA...screw em and let them pay as much or more than we do or do it for themselves.