Question

[Dexter]

How does it happen that many of the prescription drugs sold in Canada are sold for a fraction of what they are sold for here? Life saving drugs made in the same factories and put in the same bottles are substantially more expensive in the United States. Why is that? Also, why are we not allowed to buy those drugs from Canada where they are cheaper? Could it perhaps have something to do with the pharmaceutical industry pouring money into politics? Maybe we should do something about that. 
 

[ABX]

Government price caps there as part of their health system. It is one of the reasons they are so price here is they have to make up for those price caps.

[Dexter]

Government price caps there as part of their health system. It is one of the reasons they are so price here is they have to make up for those price caps.

You don't think the pharmaceutical industry would remain profitable without price gouging in the United States? My understanding is that the profit margin is huge because most of it is relatively inexpensive to produce. I'd be willing to bet they still make a profit in Canada despite the lower prices.

[ABX]

You don't think the pharmaceutical industry would remain profitable without price gouging in the United States? My understanding is that the profit margin is huge because most of it is relatively inexpensive to produce. I'd be willing to bet they still make a profit in Canada despite the lower prices.

Gouging is a relative term and frankly, the alternative of governmental intervention would be a far greater factor in increasing prices. It shouldn't be the government's business what should or shouldn't be a profit margin. And, no, they aren't still making a profit in Canada, several companies are actually having to shut down Canadian operations or Canada's price caps are putting a big dent in their margins. Putting the same restrictions here would just exasperate the problem. http://247wallst.com/special-report/2015/05/01/15-companies-losing-the-most-money/

[Dexter]

Gouging is a relative term and frankly, the alternative of governmental intervention would be a far greater factor in increasing prices. It shouldn't be the government's business what should or shouldn't be a profit margin.

In my view the cost of prescription drugs is too high. Do you disagree? If not, how do we address that problem?

And, no, they aren't still making a profit in Canada, several companies are actually having to shut down Canadian operations or Canada's price caps are putting a big dent in their margins.

I'm not disagreeing with what you've said here, but do you have a source?

[flowers]

In my view the cost of prescription drugs is too high. Do you disagree? If not, how do we address that problem?

It will not get any better. Obamacare will make sure of that. Then there will be shortages for older and sick people. One of my RX's went from $20 a month to $119.

[PzLdr]

Simple. Canada spends ZERO on drug research and development. U.S companies spend lots. When they come up with a new drug, Canada threatens to ignore their patent and produce the drug with no royalties. It's called blackmail, eh?

[Frank Cannon]

Simple. Canada spends ZERO on drug research and development. U.S companies spend lots. When they come up with a new drug, Canada threatens to ignore their patent and produce the drug with no royalties. It's called blackmail, eh?

100% correct and lets not forget what it takes to get a drug to market with FDA approval.

[Paladin]

I decided to see how Bernie would deal with the problem of high drug prices. He has a whole plan on his website entitled "Fighting to Lower Prescription Drug Prices". It's too long to quote in its entirety but this section might be of interest:

"2. Import Prescriptions from Canada

Allow individuals, pharmacists, and wholesalers to import prescription drugs from licensed Canadian pharmacies.

The United States spends more than $1,000 per person per year on prescription drugs – that’s nearly 40 percent more than Canada, the next highest spender.

In 1999, Sanders became the first Member of Congress to take a busload of Americans across the border into Canada to purchase prescription drugs. Americans should not have to pay higher prices for the exact same drugs than our Canadian neighbors simply because Congress is bought and paid for by the powerful pharmaceutical industry.

72 percent of Americans support this policy of allowing Americans to easily import safe and affordable prescription drugs from Canada.

Prohibit the United States from agreeing to provisions in international trade deals that would raise drug prices in the United States or extend the monopoly period when a brand name drug company has no generic competition.

Suspend the government’s authority to destroy packages of imported drugs at the border until new legislation is passed ensuring that Americans can import safe and affordable drugs from Canada."

The rest can be read here: https://berniesanders.com/issues/fighting-to-lower-prescription-drug-prices/