Although letting U.S. patients buy drugs from other countries sounds free-market, doing so would actually import price controls dictated by foreign governments.
President Donald Trump pledged on the campaign trail to allow drugs from foreign countries to be sold in the United States. Although this may sound laissez-faire, the fact is other countries undermine free and fair trade by imposing price controls that would be imported to the U.S. This would further undermine the profit, and thus increase the cost, of developing safe drugs in the U.S., for which manufacturers currently pay $2.6 billion on average per new drug, argues Grace-Marie Turner, president and founder of the Galen Institute, in this Health Care News Podcast Episode, hosted by HCN Managing Michael Hamilton.
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