Drugs from Canada

The U.S. Food and Drug Administration (FDA) on Friday, January 5th, approved Florida’s plan to import cheaper prescription drugs from Canada, marking a significant stride forward in a broader effort to rein in drug costs in the U.S. This is a first-in-the-nation move that could reduce costs for Americans but faces fierce opposition from the pharmaceutical industry. The FDA has also stated its commitment to working with other states seeking to import drugs from Canada.

Patients in the U.S. pay significantly more for medicines than they do in Canada and some other countries. Drug importation could open up a new and cheaper source of drugs beyond the retail and mail-order pharmacies that Americans typically rely on to fill prescriptions. Along with Florida, other states such as Colorado, North Dakota, and Vermont have their own drug importation plans in place, which will require FDA approvals.

However, Florida’s newly approved plan will likely face hurdles before it takes effect, including potential lawsuits from the pharmaceutical industry. Drugmakers have long argued that importation may introduce counterfeit medicines into the U.S. supply chain and harm patients — a concern the FDA previously raised because the agency cannot guarantee the safety of those drugs.

The FDA’s Friday approval appears to have guardrails that aim to mitigate potential safety issues. Before Florida can distribute Canadian drugs, the state must send the FDA details on the medications it plans to import, ensure that those treatments are not counterfeit or ineffective, and relabel those drugs to be consistent with FDA-approved labeling.

Florida must also submit quarterly reports to the agency about cost savings and potential safety issues, among other obligations. The FDA’s approval allows Florida to import drugs for two years from the date of the first drug shipment.

“These proposals must demonstrate the programs would result in significant cost savings to consumers without adding risk of exposure to unsafe or ineffective drugs,” FDA Commissioner Robert Califf said in a statement.

The pharmaceutical industry pushed back on the FDA’s move on Friday. Pharmaceutical Research and Manufacturers of America (PhRMA), the industry’s biggest lobbying group, called the FDA’s approval of Florida’s plan “reckless” and said it is considering “all options for preventing this policy from harming patients.”

Hopefully, this new plan can give some much needed relief to those who are reliant on the more expensive pharmaceuticals.

Mortgage Rate Roller Coaster

As we enter 2024, the 30-year mortgage rates have been on a downward trend for the past several months, providing a much-needed respite for prospective homebuyers and homeowners alike. This decline in rates comes after a period of historically high levels, which had negatively impacted the affordability of homes and the ability of individuals to refinance their mortgages.

Throughout 2023, the average 30-year fixed mortgage rate had reached levels not seen in almost 30 years. However, since the peak in October 2023, when rates nearly touched 8%, the trend has reversed. In the last week of December 2023, the average 30-year fixed mortgage rate had dropped to 6.61%, marking the ninth consecutive week of decline and reaching its lowest point since May 2023. This downward trend has been the most significant drop in rates since November 2008-January 2009.

While there have been slight increases in the 30-year mortgage rates in the first few days of January 2024, when compared to the rates seen earlier in 2023, the current rates are still significantly lower. For instance, a 30-year fixed mortgage rate of 6.64% in late December 2023 would result in a monthly payment that is approximately $275 less than an 8% mortgage for a $300,000 loan.

The recent decline in mortgage rates has been a welcome change for the housing market, as it has encouraged potential homebuyers to re-enter the market after a period of uncertainty. Lower rates have also made it more feasible for homeowners to refinance their existing mortgages, potentially saving them thousands of dollars over the life of their loans.

Looking ahead, it would be a great development if this trend of declining mortgage rates continues.

2024 Movies to Get Excited For

2023 was a pretty lackluster year for moviegoers. While there were a few standouts like Godzilla Minus One, and a few big hits like the “Barbenheimer” combo (Barbie and Oppenheimer), there was not much else to write home about.

How about 2024? What movies do we have to look forward to? This year is looking to be all about sequels, prequels, and spinoffs, and reboots. We have a Mad Max prequel, another Godzilla movie (not by the makers of Minus One unfortunately), Bad Boys 4, Kung Fu Panda 4, and Despicable Me 4.

There are many more, such as a squeal to Gladiator, and interestingly another Karate Kid with Ralph Macchio reprising his role as Danial, and Jackie Chan reprising his role as Mr. Han from the 2010 Karate Kid remake.

So far, the ones I am excited for are Dune: Part Two and, with some apprehension, The Lord of the Rings: The War of the Rohirrim. Deadpool 3 will also probably be good if you like that kind of movie.

Are there any particular movies you are excited for? If you want to see a list of “anticipated” movies scheduled for release this year, you can find them below. (You have to scroll down a bit after opening the link)

Young Boy on a Mission to Clean the Seine

Many are enchanted by the Seine’s romantic charm in France, but the river now hides discarded wastes of city dwellers. A young Parisian, Rafael Marinho, takes action against this pollution. Every Saturday, he and his father use a powerful magnet on the riverbanks to extract metal debris.

Initially done for fun, Rafael turned this into a regular effort, viewing it as a necessary task neglected by adults. Over two years, they’ve removed almost 20 tons of discarded metal, including 50 bicycles. Rafael displays his favorite finds in a pop-up museum by the river, each accompanied by an imagined story.

Items like a safe, revolver, and motorbike suggest tales of a fleeing gangster. With over 20,000 Instagram followers, Rafael aims to inspire others. Even President Emmanuel Macron has praised his river-cleaning initiative.

Eyes in the Skies

Drones are a very cool technology, but they can be as dangerous as they can be useful. Dedrone’s City-Wide Drone Detection a product that creates a virtual shield over a defined geographical area, it quickly notifies law enforcement of any drone intrusion.

The system identifies drone locations by monitoring a combination of signals, such as radio frequency, ADS-B data (commonly used in planes), and RemoteID beacons.

This drone detection technology has been put in place to safeguard a variety of places, such as New York City’s energy provider Consolidated Edison, Barcelona’s police force, and a unknown number of airports.