Price reductions on nearly 70 generic drugs sold in Canada

A new agreement between the pan-Canadian Pharmaceutical Alliance and the Canadian Generic
Pharmaceutical Association will reduce the prices of nearly 70 generic drugs, including the most
commonly prescribed medications. These include drugs used to treat conditions such as high blood
pressure, high cholesterol and depression.

Under the January 29 agreement, the prices of these generic drugs will be reduced by 25% to 40%.
Effective April 1, 2018 the prices will be as low as 10% or 18% of the cost of their brand name equivalents
for all Canadians covered by a public or private drug insurance plan. Each province will be responsible
for applying the reductions individually. Some provinces, such as Saskatchewan, may introduce a
transition period until the supply of drugs purchased at the old prices has wound down.
These lower prices, will vary according to each province.

One of the key features of this initiative is a five-year no-tendering commitment by participating drug
plans. The generic drugs covered by this agreement are manufactured by multiple companies, which
will help ensure a stable supply for patients.

2018-04-17T15:54:10+00:00