Great news, since Rx brand drugs cost so little in other countries.
Don't be so sure. Big Pharma relies on the US market to pay for a.) their research (millions) and b.) the cost of gaining FDA approval (more millions).
If their US sales can be undercut by re-imported goods, then who's going to continue investing in research and FDA approvals? Nobody.
If approved, this law will probably stop pharmaceutical research in its tracks.
It's further proof that twelve years as Chairman of the Commerce committee didn't teach McCain a damn thing about business and the economy. If he wanted to do something constructive (rather than destructive), he could hammer on the Euro-socialists for mounting a price-fixing cartel that doesn't allow a price that helps the pharmaceutical companies recover their R&D (and FDA approval) costs.
It's not that we're paying too much. Instead, it's that the rest of the world is paying too little.
You’re spot on. This will hurt pharma research, profits, and employment. This also increases the risk of sub-standard drugs coming in from China and other lovely places, since the chain of custody is longer and less controlled. McCain drives me nuts . . .