Ty Roush | Forbes Staff
Jan 5, 2024
The Food and Drug Administration announced Friday it will allow Florida to import medications from Canada, following decades of attempts by states in the U.S. to purchase drugs in bulk at a cheaper price from the country.
BIG NUMBER
$150 million. That’s how much Florida estimates the new program could save the state by purchasing medicines from Canadian pharmacies, including HIV, AIDS, diabetes, hepatitis C and psychiatric medications, among others.
WHAT TO WATCH FOR
Other states have applied for the program, including Colorado, New Hampshire and Vermont. New Hampshire’s application was rejected last year because the state did not identify a Canadian wholesaler. Vermont’s application was determined to be incomplete, though it is monitoring how other states’ applications are approved before resubmitting, a state official told the New York Times. Colorado’s application is pending.
KEY BACKGROUND
The FDA approved plans in 2020 that would allow states to establish programs to import certain prescription drugs from Canada. The agency argued the programs would result in a “significant reduction” in prescription drug prices in the U.S. The plans were introduced by lawmakers in the early 2000s, though their implementation was delayed after some health officials cited safety concerns. States were allowed to apply for approval of their importation programs shortly after the FDA’s approval. President Joe Biden ordered the agency to continue working with states amid delays in the application approval process, arguing the programs would cut drug prices for American consumers.
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