The trump administrations attempt to import cheap drugs from other countries was rejected by Canada

category:Finance
 The trump administrations attempt to import cheap drugs from other countries was rejected by Canada


Health Canada said in a statement on November 28 that it would implement a number of new measures to prevent drug shortages

She also asked the pharmaceutical companies to provide information to assess existing or potential drug shortages, she said in the statement. If there is a serious or imminent safety risk, pharmaceutical companies should provide this information urgently within 24 hours.

She said drug shortages remain a major global challenge, which has been exacerbated by the new outbreak. Canada is still a small market in drug sales, accounting for only about 2% of the worlds drugs, of which 68% come from other countries. Therefore, Canada needs to be vigilant in maintaining the drug supply.

Reuters noted that Canadas move to ban drug exports came just days before the United States introduced the import prescription drugs rule. The U.S. regulation will allow domestic licensed pharmacists or wholesalers to import some prescription drugs for the Canadian market in bulk, which is scheduled to be implemented by December.

As early as July last year, trump commissioned a plan to allow prescription drugs to be imported from Canada at lower prices. At that time, health minister aza said that he and trump discussed developing a plan for the safe and effective import of drugs from Canada in order to conclude transactions with other countries for the benefit of the American people.

However, some experts in the United States doubt the feasibility of importing prescription drugs from Canada, in part because they are worried that Canadian suppliers will not be able to meet the huge market demand in the United States; the American Drug Research Institute and the Pharmaceutical Manufacturers Association believe that this program may lead to the risk of patients buying fake or adulterated drugs.

According to another media interpretation, trump will reduce the price of prescription drugs as one of the priority election topics in 2020 re-election, so he intends to allow the import of prescription drugs.

But at that time, Trumps move met with a lot of resistance. In a statement, the pharmaceutical research and Manufacturers Association said the move is a reckless distraction that hinders our ability to respond to the current epidemic and our potential future..

We think they may be more inclined to build momentum for the campaign than to make a tangible material impact, Brian Abrahams, a biotechnology analyst at RBCC capital markets, said in a report Reuters also said the trump administrations efforts to reduce drug prices in the past, including plans to force insurance companies and other healthcare payers to pass on rebates to patients, have stalled due to industry resistance. In September, Canadian Prime Minister Justin Trudeau said in September that he was willing to help other countries provide drugs if possible, but his priority was to protect the needs of Canadians. Many Canadian drug suppliers opposed Trumps plan, saying it could lead to shortages. Source: observer.com editor in charge: Yang Bin_ NF4368

We think they may be more inclined to build momentum for the campaign than to make a tangible material impact, Brian Abrahams, a biotechnology analyst at RBCC capital markets, said in a report

Reuters also said the trump administrations efforts to reduce drug prices in the past, including plans to force insurance companies and other healthcare payers to pass on rebates to patients, have stalled due to industry resistance.

In September, Canadian Prime Minister Justin Trudeau said in September that he was willing to help other countries provide drugs if possible, but his priority was to protect the needs of Canadians. Many Canadian drug suppliers opposed Trumps plan, saying it could lead to shortages.