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Biotech / Medical : Biotech Valuation
CRSP 56.87-2.3%Dec 5 3:59 PM EST
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To: Spekulatius who wrote (9609)11/30/2003 2:09:17 PM
From: Biomaven  Read Replies (3) of 52153
 
reimports from Canada should be possible

The big companies like Cardinal can't do it because it undoubtedly violates their distribution contracts with the manufacturers. That's why all the re-importation to date has been via small pharmacies.

Pharma are attempting to limit supply to Canada to prevent re-exportation. But this strategy still has to be tested against an angry Canada when local shortages emerge. The Canadians might be tough - threaten compulsory licenses to generic companies, for example. The same thing might happen if pharmas elect not to register their new drugs in Canada at all, figuring that the lost US would be more significant than the foregone Canadian sales.

There are also murky issues about labelling differences between the US and Canada.

The counterfeit drugs issue is real - it's been a problem even in the US, and clearly allowing re-importation makes the problem much worse.

But bottom line, in my view most of the "safety" cries are simply a convenient way avoid the real issue - the disparity of prices between Canada and the US. If the US comes down to Candian levels then drug development in the US (and hence the world) will slow sharply. We might get a decade-long new drug drought (starting some years from now) that might only be ultimately broken by the emergence of a new drug industry in China and India.

Peter
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