The Patented Medicine Prices Review Board releases its latest report on generic drug pricing in Canada
OTTAWA,Feb. 6, 2018 /CNW/ - The Patented Medicine Prices Review Board (PMPRB), through the National Prescription Drug Utilization Information System (NPDUIS) research initiative, today published the most recent edition of the Generics360
The report found that Canada has a strong generics market with the third highest rate of generic drug use and the second highest per capita spending on generics among OECD countries in 2016.
In 2016, Canadians continued to pay more than most other OECD countries for generic drugs despite high generic drug use and the implementation of provincial and territorial policies that have greatly reduced generic prices in recent years. The findings demonstrated that Canadian public drug plans could have seen their 2016 costs reduced by nearly half a billion dollars if higher-priced top-selling generic drugs in Canada had been aligned with international levels.
This edition of Generics360 focuses on the last quarter of 2016 and examines 605 generic drugs which accounted for 82.3% of all Canadian generic sales. In comparing Canadian generic drug prices to prices in other countries, the report emphasizes the seven countries listed in the PMPRB's regulations ("PMPRB7") France, Germany, Italy, Sweden, Switzerland, the United Kingdom and the United States. Prices in select OECD (Organisation for Economic Co-operation and Development) countries were also looked at for further perspective on Canada's position within the global market.
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SOURCE Patented Medicine Prices Review Board
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