Canadian drug prices are controlled and therefore cheaper than the market prices of pharmaceuticals in the U.S. Canadian companies are able to sell to U.S. consumers at a profit, while still undercutting U.S. rates.

"There has been proposed legislation on the books in the U.S. for a long time," he said. "This is not a real issue. It will be years from now before any proposed U.S. legislation could become reality."

"He has it in his power to take action if necessary, but there has not been any law passed in the U.S.," [Erik Waddell] said. "There is no threat to the Canadian supply, but we are ready to act if there is."