technology

Getting Down To Basics with

Reasons Why Prescription Drug Prices Are Low in Canada

In many states, you will realize that quality healthcare is a top priority and that explains the policies that are enacted to lower prescription drug prices. There are laws and guidelines that control the manufacture, sale, and prescription drug prices. In Canada, prescription drug prices are quite low as compared to the neighboring states such as the United States and most people do not understand how that has maintained a low pricing for the drugs. What is shocking is that the cost of manufacture of the prescription drugs is usually the same, but for Canadians getting the drugs is less costly. No one wishes to live in a state where they cannot afford prescription drug prices and the best choice of state for you is Canada. Read on to learn the reasons behind the pricing difference.

One of the things that have contributed to the low pricing of prescription drugs in Canada are the strong policies and laws that monitor the pricing of drugs. The government has set up a board referred to as Patented Medicine Prices Review Board (PMPRB) that reviews the prices of all prescription drugs in the market and that is why you can get pet drugs at a cheaper price. Working together with the pharmaceutical companies, the board has managed to ensure that prescription drugs are available at affordable prices. One of the strategies that the government has employed to ensure that the companies do not overprice the drugs is offering subsidies.

One of the strong regulations that the PMPRB has put in place is that pharmaceutical companies are not allowed to enjoy the market if the drugs are unaffordable to the consumers. This policy has forced pharmaceutical companies to limit the prices of drugs to access the large market share in Canada. The board compares the prices of drugs in different states when setting the pricing limits in Canada and that explains why prescriptions drugs prices are the lowest across the globe. With this, Canadians are not worried about being exploited by local drug manufacturers. This strategy has been adopted by US consumers to ensure that they acquire prescription drugs at the best prices. If you live in the US, you should figure out prescription drug prices in Canada to avoid paying more than you should to your local chemist.

The Canadian healthcare system puts the health of the citizens before profits. Pharmaceutical companies are in the business to make profits but ensure that the drugs are available to the consumers. According to statistics, Canadians are ready to pay more as taxes to ensure that universal healthcare is implemented by the state. From this, you understand why drug manufacturing companies are always ready to go on the table with the government to negotiate drug prices. The above-discussed reasons explain why prescription drug prices are quite low in Canada than other states.