Buying Meds from Canada

[sq764]

I was reading the NY Post clip about the thought of buying Canadian meds to save $$ for New York. (I guess MA is already doing this?)

The theory of saving money by purchasing cheaper drugs is valid, but does anyone find an issue with encouraging people to forego American drug companies and purchasing drugs from foreign countries?

Is this a good precedent to set?

[Pace Cap'n]

From what I recall of a discussion on NPR a few weeks ago, almost all of the drugs sold in/by Canada come from American manufacturers. The manufacturers sell to Canada cheaper due to their price controls.

The American manufacturers are, in some instances, beginning to limit the quantities shipped to Canada. In some cases, drugs for Canadians have been in short supply due to exports to the US.

Some Canadian pharmicists derive as much as 90% of their sales from exports.

[ceejay]

I, for one, find it abhorrent that US patients and taxpayers are subsidising drug costs in the rest of the world. This is not just through prices but also research at Universities.

I know that research is neccessary for drug development, but maybe there should be a simpler, two-tiered structure for prices:
One for developed countries and one for the undeveloped world.

[andicap]

Originally posted by sq764
I was reading the NY Post clip about the thought of buying Canadian meds to save $$ for New York. (I guess MA is already doing this?)

The theory of saving money by purchasing cheaper drugs is valid, but does anyone find an issue with encouraging people to forego American drug companies and purchasing drugs from foreign countries?

Is this a good precedent to set?

So are the same people who object to buying drugs from Canada betting into
off-shore pools where American racetracks get NADA.

Do I see a bit of hypocrisy here?

If you want to support American and not buy from Canada, fine (that's why I bought a Saturn in 1994 and it's still going strong -- see Democrats can be patriotic :) )

But how do say "Don't buy drugs from Canada" while sending your betting dollars to Antigua?

Drug companies are always screaming they need higher prices because of the huge research costs but I haven't seen Merck or Pfizer filing for bankruptcy lately.

[trying2win]

Andicap,

--Excellent reply. There seems to be some protectionism vs free trade issues here, plus the "It's all about money" connection.

--Here in Edmonton, Alberta, Levi Strauss recently announced they will be shutting down local operations and putting a bunch of people out-of-work. Reason given was something like: "Everyone else in our business is out-sourcing to foreign countries to remain competitive...therefore WE WERE FORCED to do the same to stay in business."

--Similar issue awhile ago with the lumber industry. I imagine the American lumber industry was complaining to the U.S. Federal Government that cheaper imports from Canada were hurting their businesses and costing some Americans their jobs. So a new tariff was ordered on Canadian imported lumber. Then Canadian lumber industries complained...and on...and on...

--AHNULD the new governor in KELLYFORNYA, doesn't like American movie companies producing films in Canada. I'm assuming the reason these movie companies are producing these films in Canada, is because they're cheaper do produce here, right?

--It appears there's no easy solution at times to free trade, protectionism, and job security and some ethics assoiciated with
these issues. It looks like it's difficult to keep everybody happy.

--So back to the original topic...i.e. about Americans buying cheaper prescription drugs from Canada. I guess our American friends have to decide for themselves, whether they want to save money by buying their prescription drugs from Canada, or remaining patriotic and spending a few more dollars on the same item from American drug companies.

--Oh, by the way, yes I do buy American products from time-to-time, not just Canadian ones.

Trying2win

[sq764]

Andicap, you miss my point..

I think the one difference here is you do not see the NTRA, DRF and USTA saying "You know what, bet offshore, its a better deal"

That is essentially what New York (and MA) would be doing..

[Tom]

Originally posted by sq764


The theory of saving money by purchasing cheaper drugs is valid, but does anyone find an issue with encouraging people to forego American drug companies and purchasing drugs from foreign countries?

Is this a good precedent to set?

Absolutely! Screw the American drug companies because they have been screwing us for years. Hey, I'll stand behind buying American for commercial goods, but medicine is something you don't play around with. People NEED drugs and I say to Hell with these fat cat druggie CEO's getting rich off of peoples suffering.

:mad:

[Lefty]

andicap, I am under the impression that a lot of those Saturn parts come from Mexico.

[sq764]

From what I understand, you guys pay like 50% tax on your income? And this covers healthcare?

Is this right?

[lsbets]

The drugs in Canada are the same ones as here. The drug companies are mostly American. The difference is Canada has price controls on prescription drugs and we don't, which is a large reason why you see the reasearch done here. Even the major European drug companies do most of their research here, because they cannot turn enough of a profit in Canada and Europe to make the research worthwhile. Ceejay is right, we are subsidizing the cost of medication for the rest of the world. By buying drugs in Canada, states are essentially importing price controls, which is why the drug companies will start to limit the supply of drugs to Canada to only meet the demands of the market there. In terms of the financial health of the drugs makers, Schering Plough is in the dumps. No, no one has filed for bankruptcy, but the profit margins for drug makers are no different than those of other companies in growth industries. The reason everyone says buy the drug makers is the population is getting older, and demand for drugs will only increase over the next 40 years. It is a growth industry and therefore a good investment.

I am trying hard not to give my opinion (and I know it has leaked through, I'm opinionated, I can't help it), because I think it really doesn't matter. As states and people turn to Canada to buy drugs, the drug makers will stop doing business, or cut back on business, in Canada. It really is a non issue, because the pharmaceutical companies will take control of the situation before it hurts their bottom lines.

BTW - I do not bet offshore, I play at my local track and on Bris Bet