Regina 
Site Admin
Posts: 32460
Posted: Sat Nov 23, 2013 11:57 am
This does nothing to reduce drug costs and is only aimed at assuring the pharmacies make no profit on the drugs they dispense.
"Ontario is one of the largest purchasers of prescription drugs in the world and spends about $4.3 billion a year on its provincial prescription drug plan."
The government is gloating over savings by fixing generic drug costs based on a max of 18-25% of the brand price, which all totaled represent only about 3% of the $4.3 billion. The majority of the $500 million saved last year was based on the cheaper generics being introduced into the market rather than the reduction of their cost. With their politically driven claims of a savings victory, they have effectively driven nearly all generic manufacturing out of north America and have limited the introduction of new cheaper generics drugs.
Huge win for the brand companies of the world.
