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NEWS RELEASE 00-100; JULY 21, 2000 July 21, 2000
News Release 00-100
Inv. No. 332-419

ITC TO REVIEW THE PRICING OF CERTAIN FOREIGN PRESCRIPTION DRUGS;
SEEKS INPUT FROM INTERESTED PARTIES
BY AUGUST 4, 2000

The U.S. International Trade Commission (ITC) has launched an investigation to review the pricing of prescription drugs by certain U.S. trading partners.

This investigation will be completed by late September. To meet this deadline, the ITC is seeking written input from interested parties by August 4, 2000.

The investigation, Pricing of Prescription Drugs (Inv. No. 332-419), was requested by the Committee on Ways and Means, U.S. House of Representatives, in a letter received on June 29, 2000. As requested, the ITC, an independent, nonpartisan, factfinding federal agency, will determine the effect of the utilization of price controls on innovative medicines by Canada, France, Germany, Italy, Japan, Mexico, Russia, and the United Kingdom on pricing for such drugs abroad and in the United States. The ITC will provide information on:

The ITC will submit its report to the Committee by September 29, 2000.

The ITC will not hold a public hearing in connection with this investigation. However, the ITC welcomes written submissions for the record in this investigation.

In addition to general information regarding prices and pricing practices prevalent in each of the countries under consideration, the Commission is particularly interested in comments regarding the extent to which price control systems utilized by the countries under consideration impact pricing for comparable drugs in the United States.

Written statements (one original and 14 copies) should be submitted at the earliest practical date but no later than August 4, 2000. All written submissions, except for confidential business information, will be available for public inspection. Written submissions should be addressed to the Secretary, United States International Trade Commission, 500 E Street SW, Washington, DC 20436.

Further information on the scope of the investigation and appropriate submissions is available in the ITC's notice of investigation, dated July 21, 2000, which may be obtained from the ITC Internet site at www.usitc.gov or by contacting the Office of the Secretary at the above address or at 202-205-1806.

ITC general factfinding investigations, such as this one, cover matters related to tariffs or trade and are generally conducted at the request of the U.S. Trade Representative, the Senate Committee on Finance, or the House Committee on Ways and Means. The resulting reports convey the Commission's objective findings and independent analyses on the subjects investigated. The Commission makes no recommendations on policy or other matters in its general factfinding reports. Upon completion of each investigation, the ITC submits its findings and analyses to the requester. General factfinding investigation reports are subsequently released to the public, unless they are classified by the requester for national security reasons.

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