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Reimportation Threatens Innovation
Orrin Hatch, a Republican Senator from Utah who sits on the Senate Health, Education, Labor, and Pensions Committee, explains why U.S. drug prices are amongst the highest in the world—and argues against the reimportation of prescription drugs from abroad.
The price of drugs is very high, too high. What many fail to appreciate, though, is that the issue is not so much what we pay, but that many other countries aren’t paying their fair share.
American taxpayers are putting up billions of their hard-earned dollars each year for biomedical research at the National Institutes of Health while, year in and year out, many other countries essentially free-ride on U.S. research and development activities and then set price controls on the approved drugs products that are the fruits of this U.S.-financed research.
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