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Canada Saves CAD2bn Through Pricing Deal

But CGPA Warns Over Increasing Reliance On India And China For Supply

 
• By Akriti Seth

A five-year agreement between the Canadian Generic Pharmaceutical Association and the pan-Canadian Pharmaceutical Alliance has helped to save close to CAD2bn in prescription drug costs in Canada. However, the CGPA has expressed concern over price cuts that are forcing Canada increasingly to rely on supply from lower-cost jurisdictions such as China and India.

Canada
CGPA & pCPA partnership results in savings and better access • Source: Shutterstock

Canada has saved close to CAD2bn ($1.5bn) in prescription drug costs over the first half of a five-year deal to set price discounts for generics, which has resulted in the prices of nearly 70 of the country’s most commonly-prescribed drugs being reduced by between 25% and 40% from 1 April 2018.

Jim Keon, president of the Canadian Generic Pharmaceutical Association, said the latest data – based on information from the Patented Medicine Prices Review Board – showed that “Canada’s generic pharmaceutical industry

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