PhRMA critical of drug importation bill

The pharmaceutical industry is opposing legislation passed by the House of Representatives that would let American consumers buy prescription drugs from certain foreign countries where government price controls make medicines available for a fraction of their US price. The bill would permit the importation of Food and Drug Administration (FDA)-approved drugs made in FDA-approved plants in 25 industrialized nations. It is reported that drugmakers stand to lose billions of dollars in revenue if importation becomes law because many drugs sold in the US cost less in other countries.