Drug Reimportation on the President Elect’s Agenda
In 2006 health care spending in the US rose to $7,026 per US citizen. An alarming 16 percent of the US gross domestic product!
This is why the President Elect will be focusing on all areas of the US health care system, including the high cost of medicines compared to the rest of the western world. Obama has made it clear that he wants a health care system that is affordable and is accessible to everyone.
Pharmaceutical business analysts believe that Obama’s win will mean that there will be a change in policy to allow for the re-importation of many drugs. This may also include speeding up regulatory pathway for bio-generics. Although bio-generics are already manufactured in Europe and India, there is no pathway for regulatory approval in the U.S., which is stalling their introduction into the lucrative U.S. market.