Fair Drug Prices: Fair Drug Prices for Islanders

Fair Drug Prices

The 2008 Candian Generic Drug Sector Study released by the Competition Bureau concluded that generic drug prices were higher in Canada compared to other countries and that Canadians were not benefitting from competition in the generic market. Canadians were paying up to 5 times more for generic drugs than anywhere else in the world.

Prince Edward Island has followed the lead of most other jurisdictions in Canada and has enacted legislation to reduce the cost of generic drugs for its public programs. The fair drug pricing act -- Drug Product Interchangeability and Pricing Act -- is effective as of July 2, 2012.

As part of the province’s commitment to building a sustainable healthcare system, fair drug pricing will slow the rapid growth of government spending on drugs so these public programs remain in place for seniors and others who need them – now and in the future.

Prince Edward Island’s plan will save taxpayers dollars. These savings will be reinvested to:

ensure Islanders have access to pharmacy services in their communities;
ensure Islanders continue to have access to the drugs they need;
ensure pharmacy owners are faily compensated for service provided to the public drug program recipients;
benefit the health system overall.

This information has been taken from website "Fair Drug Prices"
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