Price of generic drugs to drop un­der new deal

The Prince George Citizen - - Local -

OT­TAWA — A new agree­ment will see the prices of nearly 70 com­monly pre­scribed generic drugs dis­counted by up to 90 per cent of their brand name equiv­a­lents.

The price dis­counts are to start on April 1 and will more than triple the num­ber of drugs that were dis­counted un­der the pre­vi­ous gener­ics ini­tia­tive.

The drugs are col­lec­tively used by mil­lions of Cana­di­ans to treat con­di­tions such as high blood pres­sure, high choles­terol and de­pres­sion.

Of­fi­cials say pa­tients will see the sav­ings when they fill their pre­scrip­tions, whether it’s through a pub­lic drug plan, an em­ployee plan or pay­ing out of pocket.

The ini­tia­tive is ex­pected to gen­er­ate sav­ings of up to $3 bil­lion for pub­lic drug plans over five years.

The agree­ment be­tween the pan-Cana­dian Phar­ma­ceu­ti­cal Al­liance – which rep­re­sents the prov­inces, ter­ri­to­ries and fed­eral govern­ment – and the Cana­dian Generic Phar­ma­ceu­ti­cal As­so­ci­a­tion was reached af­ter dis­cus­sions led by On­tario, Bri­tish Columbia and Saskatchewan.

“The generic drugs cov­ered in this ini­tia­tive are man­u­fac­tured by mul­ti­ple generic com­pa­nies, help­ing to en­sure a sta­ble sup­ply for Cana­dian pa­tients,” the pCPA said Mon­day in a state­ment.

“Pric­ing sta­bil­ity and pre­dictabil­ity will also help to en­sure that generic phar­ma­ceu­ti­cal man­u­fac­tur­ers can con­tinue to in­vest in bring­ing new cost-sav­ing generic drugs to the Cana­dian mar­ket in the com­ing years.”

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