CA appears on Consumer Stakeholder panel on drug reimportation

At a "Consumer Stakeholders Meeting" on March 19, called by the U.S. Department of Health and Human Services (HHS) on drug importation, Consumer Alert's Fran Smith cautioned the HHS Task Force on Importation that reimportation of prescription drugs was not sustainable--it may be a temporary solution for some individuals but could have serious consequences for consumers in the longer term. Smith appeared on a panel with Public Citizen, Consumers Union, Consumer Federation of America, and the National Consumers League.

In the Case of reimportation of price-controlled pharmaceutical drugs, the balance between the interests of the current generation and those of the future needs to be considered. This is not to say that the high cost of drugs for those in financial need is not a problem in need of fixing. But the "cure," drug reimportation, could be worse than the "disease," high drug prices? Drug reimportation and other proposals to restrict prices of medications could erode the foundations of new drug development. With the average cost of bringing a new drug to market at a staggering $800 million, and requiring 10 to 12 years to reach that stage, what will be the financial incentive for companies to invest in new drugs?

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