CitizenVectron Posted August 10, 2019 Share Posted August 10, 2019 https://www.reuters.com/article/us-canada-pharmaceuticals-idUSKCN1UZ0XH Quote TORONTO (Reuters) - The Canadian government announced final regulations on Friday that should cut billions of dollars from patented drug prices that are among the highest in the world, overcoming heavy opposition from pharmaceutical companies who may eventually challenge the new rules in court. The biggest reform to Canada’s drug price regime since 1987 would save Canadians C$13.2 billion ($10 billion) over a decade. The rules will save money for patients, employers and insurers including the government at the expense of drug company profits. They also could eventually cut the earnings of drugmakers in the United States, the world’s largest pharmaceutical market. Quote Canada’s approach to drug pricing is unusual. Rather than bargaining prices down, the PMPRB declares that some prices are an illegal abuse of patent rights. Big because: Quote Petitpas Taylor said the new rules would lay the foundation for a new national drug program. Prime Minister Justin Trudeau’s government is expected to announce a program to cover the cost of prescription drugs for some or all Canadians, but the program’s scope is not yet clear. This is ahead of what many expect to be an announcement of a national pharmacare program of some kind before the federal election in October (which the Liberals will campaign on). I don't know if they will go 100% publicly-funded drugs for everyone, but probably something halfway (heavily subsidized for many, including seniors and children). This will affect the US as well, if Americans are now allowed to get prescriptions in Canada. Quote Link to comment Share on other sites More sharing options...
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