Trump Backtracks on Promise to Reduce Drug Prices
According to Global Trade Watch, a division of Public Citizen, Trumps new trade agreement with Canada and Mexico (USMCA) requires all three nations to find ways for drug firms to extend the duration of their monopoly patents. The trade deal, if passed, would guarantee drug companies 10 extra years of exclusivity to sell new cutting edge cancer and other medicines call biologics, end the ability to import cheaper drugs from Canada and Mexico, and force both Canadian and Mexican citizens to pay significantly higher prices for drugs, prices that already cost Americans $5.6 billion in 2018. This trade pact is currently hung up in the House over this very provision, and hopefully the Democrats will not relent until this provision is eliminated.