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Trump plans to allow some drug importation from Canada
The Food and Drug Administration on Wednesday issued a notice of proposed rulemaking that would allow the importation of some prescription drugs from Canada. States and "certain other non-federal government entities" would be able to submit importation proposals to the regulator, while drugmakers would also be able to obtain a national drug code for certain medications. Importing prescription drugs into the U.S. is an idea that has been increasingly offered up as a solution to drug shortages or a way to find cheaper medications. Colorado, Florida, and Vermont have all recently passed drug-importation laws. The drug industry opposes importation, generally. PhRMA, the pharmaceutical industry's lobbying group, criticized the proposal, saying Trump administration "chose to proceed with an importation scheme that could endanger American lives, could worsen the opioid crisis and has been called unworkable by Canadian officials." However, former FDA commissioner Scott Gottlieb tweeted that the proposed rule had stringent safety conditions. "While it may sharply limit who can actually import Canadian drugs under this framework, it maintains critical FDA safeguards to protect consumers," he wrote. The SPDR S&P Biotech exchange-traded fund was down 0.61% in afternoon trading and is up 34% year-to-date. The S&P 500 is 27% year-to-date.
https://finance.yahoo.com/m/85634c2...439c/trump-plans-to-allow-some.html?.tsrc=rss
The Food and Drug Administration on Wednesday issued a notice of proposed rulemaking that would allow the importation of some prescription drugs from Canada. States and "certain other non-federal government entities" would be able to submit importation proposals to the regulator, while drugmakers would also be able to obtain a national drug code for certain medications. Importing prescription drugs into the U.S. is an idea that has been increasingly offered up as a solution to drug shortages or a way to find cheaper medications. Colorado, Florida, and Vermont have all recently passed drug-importation laws. The drug industry opposes importation, generally. PhRMA, the pharmaceutical industry's lobbying group, criticized the proposal, saying Trump administration "chose to proceed with an importation scheme that could endanger American lives, could worsen the opioid crisis and has been called unworkable by Canadian officials." However, former FDA commissioner Scott Gottlieb tweeted that the proposed rule had stringent safety conditions. "While it may sharply limit who can actually import Canadian drugs under this framework, it maintains critical FDA safeguards to protect consumers," he wrote. The SPDR S&P Biotech exchange-traded fund was down 0.61% in afternoon trading and is up 34% year-to-date. The S&P 500 is 27% year-to-date.
https://finance.yahoo.com/m/85634c2...439c/trump-plans-to-allow-some.html?.tsrc=rss
