Trade differences between U.S. and China could threaten prescription drug prices
Prescription drug prices threatened due to trade differences
A 10% U.S. tariff on Chinese goods went into effect at midnight Tuesday and China responded with a tariff as well. China and India are the top manufacturers of ingredients for generic pharmaceuticals.
Prescription drug prices threatened due to trade differences
What we know:
HOUSTON - While the threat of tariffs raises the specter of drug shortages and rising prices, patient advocate Dr. Bill Hennessy believes higher prices would be negligible for patients who rely on their medication.
"$4 is going to become $5. That isn't a deal-breaker, here, so I don't see a problem with it, unless China acted retaliatory and said, 'Just because of that, we're not going to give you these ingredients,' but they'd risk losing their own commerce, too, and they're probably not going to be willing to do that."
The Source: National Institutes of Health, Association for Accessible Medicines, Wall Street Journal