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Pharma companies urge Trump administration to target Canadian drug pricing
(www.hilltimes.com)
A vial of insulin costs far more in the U.S. than it does in Canada.
Drug prices are set by Canada’s Patented Medicine Prices Review Board which sets price caps by comparing drug prices across a group of 11 countries. The US used to be included in the formula, but was removed from the group in 2022 — because US drug prices are an insane global outlier.
https://en.wikipedia.org/wiki/Patented_Medicine_Prices_Review_Board
A group of Pharma companies including Pfizer and Merck have asked the Trump administration to put pressure on Canada. They are accusing the country of unfair trade practices.
The real problem is on a per-drug basis. Canada has the ability to make 70% of its medicine on average. But doubtlessly it's making 500% of its own needs for some medications and 0% for others. Cut that supply off overnight, and a lot of people unlucky enough to be reliant on the 0% ones are going to die.