One of the first signs that Obama's healthcare reform efforts were headed southward was the backdoor deal the White House struck with the pharmaceutical industry earlier this summer. Big Pharma's promise to help “save” Americans $80 billion under the reformed healthcare system sounds generous, but more likely reflects how much companies felt like giving in exchange for maintaining their stranglehold on the market.
And now we learn that drug manufacturers are exporting this lust for profits to our 'trading partners' abroad. While poor Americans are crippled by high drug costs, folks in Guatemala don't get a public option, a town hall, or even a vote. Thanks to U.S. trade policies, they just get a bill for brand-name drugs that could cost as much as 850 percent more than a local generic version.
According to a study on the Central American Free Trade Agreement and Guatemala's prescription drug market, intellectual property regulations have drastically limited access to critical drugs like insulin and HIV/AIDS treatments. Center for Policy Analysis on Trade and Health (CPATH) analyzed Guatemala's pharmaceuticals market under CAFTA and found that drug companies have capitalized heavily on “data exclusivity” and patent rules that restrict the availability of generic medicines.