Government negotiators have reached a deal with the country’s pharmaceutical industry on pricing for generic drugs, which fill three-quarters of all prescriptions in Canada.plans, made the announcement Tuesday, along with the Canadian Generic Pharmaceutical Association, which represents makers of off-patent drugs.
Generic drugs made by multiple manufacturers are priced between 25 to 50 per cent of the patented price, depending on the number of competitors and type of medicine, and those categories remain unchanged.“What our companies like about it is the predictability and certainty of the pricing,” he said.
The pCPA said that previous agreements have saved public health plans $4-billion over the past decade. The federal Liberal government attempted to set new rules that would lower the price of patented drugs – and, by extension, the cost of generics. But those new rules faced strong pushback by theTransparency over pricing is a key difference between generic drugs and patented medications.