DeSilva hopeful move will lead to cheaper prescription drugs
Bermudians have been given a wider choice of prescription drugs, with three new countries added to the Island’s list of suppliers.Health Minister Zane DeSilva said he hoped the cost of medications would come down in Bermuda, as a result of the amendment of the Designated Countries Order in the Pharmacy and Poisons Act of 1979.Prescription pharmaceuticals can now be imported from Brazil, India and Israel, which are “leaders in the manufacturing of generic drugs”, he said.“Currently prescription drugs, known in legislation as Schedule Three Drugs, can only be imported from a handful of countries that exclude the leading manufacturers in quality generic drugs. “Generic medications are produced and sold when the patent protection for a brand name drug expires, and are usually cheaper than brand name drugs.“With the patents of the most popular brand-name drugs expiring over the next few years, access to key generic manufacturing markets will increase options for local importers.”Mr DeSilva said Indian companies produce about a fifth of the world’s generic drugs, while Brazil holds the largest generic manufacturing sector in Latin America.Israel’s Teva Pharmaceuticals is the largest generic drug manufacturer in the world.Legislation will also be amended to ensure the quality of imported drugs is maintained. Mr DeSilva mentioned Lipitor, Plavix and Zyprexa as three prescription medications likely to be affected.Useful website: www.bhec.bm.