The United States Food and Drug Administration (FDA) has approved a plan to allow Florida to import certain drugs from Canada, a first-of-its-kind program in the country, because the drugs are available in the United States. Medicines will be available at a much lower cost.
It is undeniable that the cost of medicine in the United States is very high; Several studies have shown that the United States spends more money on prescription drugs than other developed nations. 1 An analysis by the Government Accountability Office found that some of the most commonly prescribed brand-name drugs cost an average of 2.82 times more in the United States than in Canada.
A number of factors determine how much each patient pays for their prescriptions, depending on their insurance plan and whether the drug they want to receive is available generically.
Generic drugs are more affordable and account for 80% of all prescriptions in the US. But for branded drugs that are not available as generics, because a pharmaceutical company has patented the drug, the prices can be very high. This is why it accounts for the majority of drug spending in the US.
One reason Canada’s prices are lower is because the country has negotiated higher prices with drug companies, which the United States has not. Under the Inflation Reduction Act, the US would be able to negotiate higher prices for certain drugs for Medicare patients, but the process is still in its early stages.
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Currently, each insurance company negotiates drug plans with drug companies, creating an uncoordinated system that can result in each patient paying a lot more out-of-pocket for drugs. These negotiations are often done through benefit managers (PBMs), who earn agent fees that increase the higher the cost of the drug.
Although the cost of drugs before insurance is generally higher than most Americans actually pay, out-of-pocket costs are still higher in the United States than in most contemporary nations, according to the Organization for Economic Co-operation and Development. It is reflected in the statistics of cooperation and development. Americans spent an average of $133 out-of-pocket on prescription drugs in 2021. This compares to $11 in the UK, $58 in Germany and $132 in Canada. (People with chronic illnesses and the elderly pay much more; people aged 65 to 79 paid an average of $456 out-of-pocket in the US.)
Florida’s program specifically seeks to import central drugs for diseases such as chronic diseases, such as HIV/AIDS, psychiatric disorders, and prostate cancer. Officials estimate their cost to drop to $1.3 million a year. But the program would be limited to Floridians who receive state or federally managed health care, such as those covered by Medicaid, prisoners, and patients of county health facilities. Canadian export restrictions aimed at preventing drug shortages could affect the amount of drugs Florida imports.
Floridians without private insurance or health insurance and living outside of Florida can only access prescription drugs imported from Canada, purchased directly from online Canadian pharmacies. In a number of rare cases, it is not legal to import drugs individually into the United States, but the FDA provides guidelines for this, including limiting imports to a three-month period and proving that it is only for personal use. is for use. About two million Americans are estimated to be addicted to imported drugs.
Competitively priced blood pressure medication, inhalers, and over-the-counter cold medicine are among some of the most common medications that people buy, said Lucia Mueller, president of Pharmacy Checker, a company that compares prices at U.S. and reputable international pharmacies. People prefer to import individually. Patient assistance programs can help cover the costs of expensive drugs, but candidates must meet certain payment conditions to qualify. Mueller told Verville:
“This is where people slip up.” “Many people on our website are insured, the only ones we call underpaid.”
