WASHINGTON — In response to the Trump administration announcing today that it plans to allow the importation of cheaper drugs from Canada and other countries, Open Markets Managing Editor Michael Bluhm makes the following statement: 

“Importing drugs won’t bring prices down significantly because it fails to address the root cause of the problem: monopoly. Rampant corporate consolidation and collusion among pharmaceutical giants fuel drug price inflation, while abuses of the patent system lock in monopoly profits for decades. To solve the crisis of exorbitant drug prices, this administration—or the next one—should eliminate patent abuses and pursue tough antitrust enforcement, as Open Markets detailed in its white paper last week."

For more information see:

The Role of Monopoly in America’s Prescription Drug Crisis