Obama opens U.S. to pharma trade with Cuba

The Obama Administration’s newest round of executive actions designed to increase trade between the U.S. and Cuba will eventually allow pharmaceuticals made on the island to be sold in the U.S. In another change, U.S. scientists will be allowed to work on joint medical research projects alongside their Cuban counterparts. “Their biomedical industry is one that has a lot to offer to the American market,” says Ricardo Herrero, the executive director of #CubaNow, a Miami-based group that supports U.S. engagement with Cuba. Under the new measures, Cuban pharmaceutical companies may apply for U.S. regulatory approval and U.S. firms will be allowed to import, market, and sell FDA-approved Cuban-origin drugs. Cuba has patented about 400 pharmaceuticals. The new rules, issued by the U.S. Departments of the Treasury and of Commerce, also lift the $100 limit on rum and cigars that U.S. travelers can bring back from the island.