Up_next

 Up next:pharmaceuticals. The proposed tariffs on these might be an impressive 200%!!

Copilot:

What countries are the major sellers of pharmaceuticals to the US?

In 2024, the U.S. imported $234 billion worth of medicinal and pharmaceutical products, and the top sellers were a mix of European powerhouses and global pharma hubs:

🌍 Top 10 Exporters to the U.S.                                                  

🧪 Why Ireland leads: Ireland’s dominance stems from its role as a manufacturing base for major pharmaceutical companies like Pfizer, Johnson & Johnson, and AbbVie. Its favorable tax policies and skilled workforce make it a global pharma hub.

💊 What’s being sold: These countries supply everything from biologics and vaccines to generic drugs and active pharmaceutical ingredients (APIs).

Want to explore how these imports shape U.S. healthcare costs or drug availability?

What share of pharmaceuticals do Americans consume??

📊 While the U.S. accounts for about 4% of the global population, it consumes roughly 8% of the world’s prescription drugs—not the exaggerated figures you might see floating around online.

Here’s a breakdown of what that means:

🧪 In 2022, Americans used about 243 billion defined daily doses of prescription medicines

🌍 Globally, around 3.2 trillion defined daily doses were consumed that same year

💊 About 66% of American adults take prescription medications, often for chronic conditions like hypertension, diabetes, and mental health

Despite not being the largest consumer by volume, the U.S. leads the world in pharmaceutical spending, accounting for 45% of global drug sales in 2023. That’s because Americans tend to use more expensive branded drugs, and prices are generally higher than in other countries.

Want to explore how this spending compares to other countries or how it affects healthcare costs?

For comparison, what share of pharmaceuticals does Canada consume. Does Canada also consume expensive medecines??

🇨🇦 Canada consumes about 2.2% of the global pharmaceutical market, making it the 8th largest in the world. That’s modest compared to the U.S., which consumes around 8% by volume and 45% by sales—but Canada still punches above its weight in spending.

💸 Does Canada consume expensive medicines? Absolutely. Here’s how that plays out:

Brand-name drugs make up 80.5% of Canadian pharmaceutical sales by value, even though they account for just 25.7% of prescriptions

Generics, while cheaper, represent 74.3% of prescriptions but only 19.5% of sales

High-cost drugs (like biologics and rare disease treatments) are used by just 2.5% of patients, yet they account for over one-third of public drug plan spending

In 2023, Ozempic alone made up 20% of the growth in public drug program spending

📈 Total pharmaceutical spending in Canada reached $41 billion in 2023, with:

43% paid by public plans

37% by private insurers

20% out-of-pocket by Canadians

So yes, Canada consumes expensive medicines—especially biologics, patented drugs, and specialty treatments. Want to explore how this affects healthcare access or what reforms are being proposed?

...