Report says drugmakers should cut prices before importation begins

Ernst & Young says in its Global Pharmaceutical Report 2004 that price cuts need to come before the U.S. government lets Americans buy cheaper pharmaceuticals from Canada or institutes other measures to hold down costs. One of the report's authors said the drug industry "is at a critical juncture" on the issues of U.S. price controls and importation. Co-author Blake Devitt says the disparity in drug pricing worldwide is causing consternation among Americans and argues policymakers and drug manufacturers need to push harder for price hikes in Europe and should be ready to forego selling in markets where governments keep them from setting higher prices.

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