The Congress wanted to pass the Dorgan Amendment No. 990 because of the following reasons:
(1) Americans unjustly pay up to 5 times more to fill their prescriptions than consumers in other countries; (2) The United States is the largest market for pharmaceuticals in the world, yet American consumers pay the highest prices for brand pharmaceuticals in the world; (3) A prescription drug is neither safe nor effective to an individual who cannot afford it; (4) Allowing and structuring the importation of prescription drugs to ensure access to safe and affordable drugs approved by the Food and Drug Administration will provide a level of safety to American consumers that they do not currently enjoy. (5) American spend more than $200,000,000,000 on prescription drugs every year; (6) The Congressional Budget Office has found that the cost of prescription drugs are between 35 to 55 percent less in other highly-developed countries than in the United States; and (7) Promoting competitive market pricing would both contribute to health care savings and allow greater access to therapy, improving health and saving lives.
The Dorgan amendment, entitled, "Pharmaceutical Market Access and Drug Safety Act of 2007," proposes a free trade policy on prescription medications, letting the Americans buy their medicines from certified organizations registered as valid importers or exporters. Once passed, cheap drugs will be available in the market, saving a lot of money for the Americans.
Retailing pharmaceuticals is hugely profitable. They mark up their prescription drugs as much as 569,000% over the price of the raw materials. A typical markup is more in the 30,000% - 50,000% range. For example:
Xanax 1 mg is sold at $136.79 for every 100 tablets when the original cost of general active ingredients is just $0.024. That is 569,958% percent markup. Americans pay the highest prices in the world for...