Life and Health Insurance Industry Welcomes Lowering of Generic Drug Prices

Tuesday, January 30, 2018 Drug News
Email Print This Page Comment bookmark
Font : A-A+

TORONTO, Jan. 29, 2018 /CNW/ - The Canadian life and health insurance industry welcomes today's joint announcement by the

Pan-Canadian Pharmaceutical Alliance (pCPA) and the Canadian Generic Pharmaceutical Association (CGPA) that they have come to an agreement to reduce prices for generic drugs by 25-40%.

"This is wonderful news and we're especially pleased that

these discounts will continue to apply to employer-sponsored plans to the benefit of all working Canadians," noted Canadian Life and Health Insurance Association President and CEO Stephen Frank. "This agreement will reduce costs in the system and help ensure that employers will be able to continue to afford their employee supplementary benefit plans," he added.

The CLHIA congratulates the pCPA and the CGPA on their cooperative approach to finding a meaningful solution to maintain the sustainability of our prescription drug system. The CLHIA believes that innovative government and private sector partnership agreements such as this are the best way forward to ensuring the affordability of prescription drugs for all Canadians.

About the CLHIA

The CLHIA is a volunteer association whose member companies account for 99% of Canada's life and health insurance business. The industry provides a wide range of financial security products such as life insurance, annuities (including RRSPs, RRIFs and pensions) and supplementary health insurance to more than 28 million Canadians. It also holds over $810 billion in assets in Canada and employs nearly 155,000 Canadians.

SOURCE Canadian Life and Health Insurance Association Inc.

Advertisement


Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store