This is in response to “Importing prescription drugs from Canada; Why is the pharmaceutical industry so threatened by drug importation?” (Commentary, Aug. 20). The commentary only perpetuates the stereotype of the evil drug companies making obscene profits and feeling threatened by drug importation. Discovering new medicines is lengthy and very expensive. It takes 12 to 14 years from first idea to approval to get a new drug on the market at an average cost of $1.7 billion. The failure rate for new medicines is incredible. I’ve been working since 1983 on projects ranging from inflammatory bowel disease to cancer and seen one great drug after another shot down by problems such as unpredictable side effects. It’s heartbreaking as a researcher when a project fails; it’s also not profitable for the company. We keep trying, though, because the need for new medicines doesn’t go away.
Pharmaceutical companies are not the most profitable companies. No other industry invests as much of its revenues in R&D. Financial risks are very high. Drug companies need blockbuster products to survive. .
Why are medicines cheaper in Canada? Because the Canadian government can bully and threaten the American drug companies. They tell us, “You must sell us your drugs for the price we want or we will make them ourselves.” That’s extortion and that’s maddening. Canada does not respect the intellectual properties and patent rights of the American drug researchers. If we were talking about books or DVDs, this would be compared to pirating and everyone would be outraged. This is not just a Canadian phenomenon. Most of Europe has had price controls for years. Drug companies could sell their medicines at generic prices, but what would this mean? No new drugs. Are we satisfied that all the drugs we have on the market right now are all we’ll ever need? I don’t think so.
It’s unfair that America is shouldering the burden for new drug development; these are trade issues that have to be solved between the governments. We can’t afford to rush to a short-term fix such as drug importation.
