Originally posted by Tigeress
As memory serves, Steve, the high cost of drugs here is tied to very expensive American drug company R&D.
I just grips me to pay more for the same thing here I have bought in other countries for a lot less. Seems like all individual Amercians are subsidizing medicine development for most of the world.
You are the HC professional though, so I look to you for some answers, guidance, and insight.
TIGERSS
Here's more: In Canada, the drug companies cannot advertise to their drugs directly to the consumer, i.e TV and radio commercials. In the US, the drug companies spend over 3 billion a year on advertising. Guess who pays for this? That's right, the average Joe. Just like any other product you buy, advertising costs are built into the price of drugs.
Another reason: The Canadian govt puts caps on how much drugs cost there. That's a good thing right? WRONG! .. unless you are Canadian or buy there. The drug companies have to make a profit to stay in business so they absorb their losses in Canada and make up for it by raising prices elsewhere... like the US.
another: The exchange rate: while this has evened out recently, in recent past the Canadian dollar was only at 60 to 70% of the US dollar.
Another: The costs of the FDA. This could be construed as part of R&D. It is the FDA's job to " take clear steps to try to make sure that those products are safe and effective, or accurately labeled, not misbranded, not adulterated"
In Canada for instance, there is no entity like the FDA.
This is why the drug companies had such a fit over American buyers buying drugs online from Canada. It isn't greed, it's simple economics. They cannot afford to sell their products at Canadian costs worldwide...they'd be out of business. Interestingly enough, one of the biggest companies complaining of the practice was GlaxoSmithKline, which happens to be an English based company.
