The debate over allowing Americans to import drugs from Canada — where they are generally cheaper — is fascinating if only to watch free trade Republicans come out in favor of protectionism and protectionist Democrats suddenly find the free trade religion.
I agree with those who believe Americans should be able to buy imported drugs from practically anywhere. If you can get your medication in Mexico or Canada cheaper than in the United States, go for it.
The main argument against this is that drug companies in Canada, for example, are forced to charge lower prices by the government there. Without higher drug prices in the United States, there won’t be enough money for future research and development.
This argument has some appeal, but frankly this is a problem the drug companies themselves are going to solve. Look, the basic problem is that drugs in Canada are far too cheap. Rather than challenge Canada’s ridiculous formulary pricing, drug companies just cave and pass on the costs of doing so to Americans. Screw that. Hopefully, allowing importation of prescription drugs will give the drug companies some backbone in such countries.
The other argument against reimportation of prescription drugs is, in my opinion, a red herring — that such drugs may be unsafe by American standards. Certainly those who favor reimportation dismiss such arguments as simply industry-serving nonsense.
But why not go all the way with this? Why not let American firms adopt manufacturing standards that are acceptable in Canada (or Mexico for that matter)? Why not let Americans import drugs from Canada (or other countries) that have yet to be approved by the FDA?
If it’s good enough for Canadians, it’s good enough for Americans, right?