Bitter pill for drug companies.(Viewpoint)(U.S. pharmaceutical industry battles cheap imports)

Crain's New York Business, November, 2003

Mayor Michael Bloomberg says New York City could save millions by importing brand-name drugs from Canada, where government-imposed controls keep prices low. He may be right in the short term. But if he and others are successful, the nation's pharmaceutical industry won't be able to finance the research needed to bring new drugs to market.

Not to put too fine a point on it, but consistency with such a policy might require the mayor to fire the head of the Economic Development Corp. EDC is aggressively pursuing a strategy of making New York the center of the pharmaceutical industry. But why would drug companies locate here if the city's policy is to attack them? Drug prices have soared in recent years, driving up health-care costs. Everyone is frustrated by...

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