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Newsletter Article


New Prescription Drug Initiative Expected to Save Canadians $3 Billion

The pan-Canadian Pharmaceutical Alliance and the Canadian Generic Pharmaceutical Association have reached an agreement that will significantly reduce the cost of prescription drugs in Canada. Starting in April 2018, the prices for 70 of the most commonly prescribed generic drugs will be discounted by 25 percent to 40 percent, representing a discount of up to 90 percent relative to the price of the equivalent brand-name (patented) drugs. With generics representing the majority of all prescriptions filled under public drug plans, the agreement is expected to generate up to CAD $3 billion in savings over five years. The agreement will reduce drug prices for all Canadians who use prescription generic drugs, participating public drug plans, and employee drug plans.


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