Much ado about almost nothing
The Congressional Budget Office last week released a report concluding that drug reimportation would reduce drug spending by about 1% over the next 10 years. But reflecting the current political realities, the report already looks to have sunk into oblivion.
The drug reimport issue was Topic A for CEOs who participated in a biotech lobby blitz in Washington last week, where the Biotechnology Industry Organization set up about 200 meetings on Capitol Hill, in the White House and at regulatory agencies. There was universal agreement on two points, according to BIO President Carl Feldbaum: importation is a lousy idea, and legislation enabling it is very likely to be enacted this year.
Senate Majority Leader Bill Frist (R-Tenn.) is one of the few members of Congress who has publicly opposed importation but, bowing to political reality, he has promised to allow the Senate to vote this session on legislation opening U.S. borders