In response to the Trump Administration’s announcement today about allowing some prescription drug imports from Canada, Public Citizen’s Global Trade Watch Director Lori Wallach released the following statement:
“Trump is talking out of both sides of his mouth on this. Access to cheaper drugs from Canada won't help many Americans when Trump is also pushing Big Pharma giveaways that would push up the price of life saving drugs in Canada and lock in high prices here — including skyrocketing the prices of treatments for diabetes, osteoporosis, and heart failure. Ultimately — Trump cares far more about corporate profits than people."
Fast Facts on the revised NAFTA agreement Trump signed last year, but that is up for revision currently in Congress:
- Requires signatory governments to guarantee pharmaceutical corporations monopoly powers to block generic competition.
- Requires governments to guarantee 10 years of marketing exclusivity for biologic drugs and provide patent evergreening opportunities for all drugs, blocking competition to bring down prices.
- Locks the United States into policies that keep medicines, including critical cancer treatments, outrageously expensive.
- Exports our failed prescription drug pricing system to Mexico and Canada.
- Provides longer monopoly benefits for medicines such as: diabetes treatments Victoza, Saxenda, Glucagon and Ozempic; osteoporosis treatment Forteo; heart failure treatment Natrecor; and short bowel syndrome treatment Gattex.
Public Citizen's Global Trade Watch has joined Congressional Democrats to demand these terms are eliminated before any vote is scheduled on the new deal.