Expensive Generics Coming Your Way
In a story entitled “Pfizer urges trade fight versus protected generics”, Pfizer CFO David Shedlarz pointed out that “Canada and many European governments set the same price for all versions of a medicine, regardless of whether it is a branded product or a generic copy.” He went on to explain that this “ensures a two-fold higher price for most generics and far lower prices for branded products than those seen in the United States.”
True, and it got me thinking about the situation in Germany - something I am intimately familiar with. From my own personal experience, OTC drugs there are much more expensive than in the US, even with the advent of internet pharmacies. In addition, many drugs commonly accessible in the U.S. aren’t even available in Germany - OTC or brand products. Case in point: Sudafed - nope, not even with a prescription available! This point interfaces with the entire discussion on what free markets deliver: access to more drugs, and more choices.
