Pharmaceuticals Limit Canadian Imports
U.S. pharmaceuticals sell (under duress) their wares at bargain basement prices to other countries, notably, Canada. As American politicians strive to see who will be the first to import Canadian-style price controls to the U.S., the pharmaceutical companies are taking steps to limit the ability of their Canadian customers to re-sell to the U.S. market. The head of Pfizer said that imports from Canada have been reduced from $40 million a year to $10 million a year, thanks to restrictions on its Canadian customers.

It's too bad that (a) U.S. politicians who ought to know better bash pharmaceuticals; reforming health care policy, or at least providing income supports for the neediest would be a better path; (b) pharmaceuticals live under the patent-breaking threat of other countries (which is why they sell to Canada and others at much lower prices); and (c) the health of every U.S. resident (and those yet born) is threatened by attempts to impose price controls, which will at worst, distort medical research and at worst, greatly reduce it.

As it appears, Big Pharma can't do much about what happens in countries that practice socialized medicine. But it's good to see they are taking steps to make sure the problems of those countries aren't imported here.

Thanks to Chip Taylor for the NY Times link and comments. (permalink)