New Pricing Agreement on Generic Drugs in Canada (April 2018)

New Pricing Agreement on Generic Drugs in Canada (April 2018)

In case you missed the January 29th joint announcement by the pan-Canadian Pharmaceutical Alliance (pCPA), and the Canadian Generic Pharmaceutical Association (CGPA) 

As of April 1, 2018, the prices of nearly 70 of the most commonly prescribed drugs in Canada will be reduced by 25% – 40%, resulting in overall discounts of up to 90% off the price of their brand-name equivalents. These drugs include those used to treat high blood pressure, high cholesterol, and depression, and are collectively used by millions of Canadians. 

More than 70% of all prescriptions reimbursed under Canada’s public drug plans are generic drugs. Previous joint efforts between pCPA and CGPA have resulted in savings of over $1B to participating drug plans over the past five years, and will continue to save $250M per year. This initiative builds upon that foundation, and is estimated to save an additional $38M in the first year, and up to $3B over the next five years through a combination of price reductions and the launch of new generic drugs. 

 

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February 22nd, 2018|Uncategorized|0 Comments

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