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Sunday, August 22, 2004

More Costly in Canada: About those prescription drugs

August 22, 2004
John Kerry, Gov. Craig Benson, and Sen. Judd Gregg all advocate importing prescription drugs from Canada. Supposedly Canada’s prescription drugs are super cheap, and Americans will get to share in these lower prices if only we could legally import drugs straight from Canada.

Not so fast.

Several studies of the price differences between prescription drugs in Canada and their counterparts in the United States throw a big monkey wrench into that theory. Forbes magazine reported last year: “The notion that pharmaceuticals are cheaper in Canada is a myth, according to experts. While some high-profile, brand-name drugs are cheaper in Canada, other lesser-known drugs and generics sell for less in the United States.”

The two primary studies that made people believe Canadian drugs were cheaper both “compared only top-selling brand-name drugs — ignoring lower-priced generics,” the magazine reported. Further examination corrected for those errors and found that many drugs were more expensive in Canada. ... FR Reprint.

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