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The Journal.

Will Florida’s Plan to Get Cheap Drugs From Canada Work?

The Journal.

The Wall Street Journal

Business News, News, Daily News

4.25.8K Ratings

🗓️ 11 January 2024

⏱️ 17 minutes

🧾️ Download transcript

Summary

Florida recently became the first state to win approval from the Food and Drug Administration to import prescription drugs from Canada. As WSJ’s Liz Essley Whyte explains, i t's a milestone in efforts to reduce the cost of medications, but the plan faces opposition from pharmaceutical groups and Canadian officials. Further Reading: -Florida Is First State Allowed to Import Drugs From Canada in Bid to Reduce Costs -Expensive Drugs Targeted for First U.S. Price Negotiations Further Listening: -Philip Morris Tried to Pivot to Pharmaceuticals. It Didn’t Go Well. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

For years, politicians on both sides of the aisle have been saying that prescription

0:10.3

drug prices in the U.S. are too high high and that Americans should be able to buy

0:15.2

them from our neighbor to the north, Canada. We can import lettuce and tomato

0:21.0

vegetables from farms all over the world.

0:23.0

But somehow we cannot re-import from Canada brand name prescription drugs.

0:30.0

In epipen in the United States of America is $646. It's $120 in Canada.

0:39.0

The problem is they're too high in America and that you can go right across the border and get drugs

0:44.5

for a fraction of the cost that they cost us here in America. But despite all that

0:51.6

interest there have been a lot of barriers to getting drugs from Canada.

0:55.0

Until last week.

0:57.0

Here's our colleague Liz Esley White.

1:01.0

For the first time, the United States is going to allow the importation of drugs from Canada,

1:09.0

and Florida is the state that gets to do this first.

1:14.0

Florida officials say the new plan could save the state $180 million

1:18.7

in just the first year.

1:20.8

And there's hope that Florida is the start of a change in how Americans buy

1:24.1

prescription drugs. This does for the first time open the door for this idea

1:30.1

period. You know there are other states that are lining up to try this and it's a big policy

1:36.8

shift for the US.

1:38.8

But there are a lot of barriers to this particular program actually getting implemented.

1:44.0

Welcome to the journal, our show about money, business, and power.

1:50.0

I'm Jessica Mendoza.

...

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