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Biotech / Medical : Biotech Valuation
CRSP 56.87-2.3%Dec 5 3:59 PM EST
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To: arnie h who wrote (9597)11/28/2003 1:55:02 PM
From: IRWIN JAMES FRANKEL  Read Replies (1) of 52153
 
Hi arnie,

It seems to me that there are several different problems that would make it very hard to be certain that reimported drugs were not sub-standard. (Knockoffs, tampering & damage are a few.)

One is knockoffs - counterfeiting. Doing this with drugs is worse (it may kill or injure people) than theft but it happens. Then we have tampering problems - of course we already have those domestically.

Another problem is that some drugs will be sensitive to temperature or other envirnmental conditions and could be damaged. My wife takes copaxone which must be refrigerated except for short times before use. Without knowing specifics, I would bet that heat would destroy some drugs. How can we be sure that reimported drugs are still effective? What government employee would want to certify that imported drugs were good when they have not gone through careful checks? I just can't imagine it happening though you are right that some of the pol's are nuts. :-)

The real issue to be grappled with is how to get other nations to pay their fair share of the costs (including economic profits). That is very tough and countries with lower incomes must be given lower prices or they will not use the drugs or they will resort to stealing (making the drugs and violating the patents). A big contributor to the problem is the ignorance of our people who cannot grasp rudimentary economics.

Hope that helps. Any questions?

Happy Thanksgiving and kind regards,

ij
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