Leaked Trans-Pacific FTA texts reveal US undermining access to medicine

 Leaks of U.S. proposals for the Trans-Pacific Free Trade Agreement (FTA) reveal that the Obama administration has reversed reforms designed to enhance access to affordable medicines made during the George W. Bush administration and is instead demanding new rights for pharmaceutical firms to challenge pricing and other drug formulary policies used by many developed countries to keep down prices. The leaked draft text raises multiple concerns, including the following:EMPOWERING BIG PHARMA TO ATTACK COST-SAVING DRUG FORMULARIES

This is a new proposal to empower pharmaceutical firms to attack the medicine formulary systems that New Zealand, Australia and other developed countries have used so successfully to reduce sky-high drug prices. Governments use formularies to control health costs by listing medicines approved for government purchase or reimbursement and negotiating with drug firms to obtain the lowest prices. Using the Trans-Pacific FTA to undermine Australia’s Pharmaceutical Benefits Scheme (PBS) and New Zealand’s Pharmaceutical Management Agency (PHARMAC) is a goal U.S. pharmaceutical firms. U.S. states and some U.S. national programs also use formulary systems.