Michigan has much to lose if the federal government allows importation of drugs. This conclusion is drawn from MichBio, a trade group for biotechnology and life-sciences enterprises in the state. The study projects the impact of federal drug importation over 10 years and foresees several possible long-term consequences, including:
- decreased total investments in Michigan pharmaceutical and biomedical research and development due to lower expected global profitability.
- reduced direct and indirect pharmaceutical and biotech jobs in Michigan due to changes in the overall scale of industry investments and possible relocation or consolidation decisions.
- decreased availability of U.S.-discovered medicines around the world as a result of company decisions to limit launches of new medicines in international markets;
- Diminished patient health benefits as a result of reduced future availability of new medicines from an overall reduction in R&D.