The Canadian Generic Pharmaceutical Association is taking issue with a new report from the Patented Medicine Prices Review Board that raised concerns about high prices for generic drugs in Canada. “The pricing information in the . . . report released today by the PMPRB is from 2016 and does not reflect current prices of generic pharmaceutical products […]
Canadians continue to pay more than most other Organisation for Economic Co-operation and Development countries for generic drugs, despite provincial and territorial policies that have greatly reduced prices in recent years, according to a new report by the Patented Medicine Prices Review Board. The Generics360 report found Canadians spent $165 per capita on generic drugs […]
The Empire Life Insurance Co. is introducing a new drug-only pooling product for plan sponsors. With advancement in medicine and higher-cost drugs on the market, it’s important to provide options to help small- and medium-sized businesses manage their high-cost claim exposure, the company noted in a press release. With that in mind, it’s offering the new $7,500 drug-only option […]
The pan-Canadian Pharmaceutical Alliance and the Canadian Generic Pharmaceutical Association have reached a deal aimed at reducing the prices for some generic drugs by as much as 40 per cent. While the parties are touting significant savings for Canada’s public drug plans, they also say employers and patients will benefit from price reductions of 25 to 40 per cent, as of […]
Employers will see private drug plan costs rise by about six per cent annually over the next five years, according to a prediction by a health-care research company. Brad Millson, principal of health access and outcomes at IQVIA, presented the results of his firm’s 2017-21 forecast, produced in partnership with Innovative Medicines Canada, at Benefits […]
The Ontario government may be spending more than it needs to on generic drugs, according to the auditor general’s latest annual report. Auditor general Bonnie Lysyk tabled her 2017 annual report on Wednesday, which found the province doesn’t know whether it’s making any progress in fighting preventable chronic disease. It found total spending by Ontario’s public […]
In late June, the Quebec government revealed plans to issue tenders for generic drugs in order to lower costs incurred by the provincial prescription drug insurance plan. The province hoped to elicit bids from manufacturers and grant those offering the lowest prices a three-year contract as the exclusive supplier to the government. The Canadian Generic […]
An Ontario arbitrator has struck down an employer’s imposition of mandatory generic substitution in its benefits plan. Last week, arbitrator Russell Goodfellow ruled on a grievance by United Steelworkers Local 1-2010 that challenged Eacom Timber Corp.’s move to mandatory generic substitution in 2016. As part of the change, the plan would reimburse employees only up […]
Industrial Alliance Insurance and Financial Services has introduced a drug cost management tool for its group insurance clients.
Canadian generic medicines are overpriced relative to generics in other countries, according to a study.