The pan-Canadian Pharmaceutical Alliance and the Canadian Generic Pharmaceutical Association have reached a deal aimed at reducing the prices for some generic drugs by as much as 40 per cent. While the parties are touting significant savings for Canada’s public drug plans, they also say employers and patients will benefit from price reductions of 25 to 40 per cent, as of […]
Employers will see private drug plan costs rise by about six per cent annually over the next five years, according to a prediction by a health-care research company. Brad Millson, principal of health access and outcomes at IQVIA, presented the results of his firm’s 2017-21 forecast, produced in partnership with Innovative Medicines Canada, at Benefits […]
The Ontario government may be spending more than it needs to on generic drugs, according to the auditor general’s latest annual report. Auditor general Bonnie Lysyk tabled her 2017 annual report on Wednesday, which found the province doesn’t know whether it’s making any progress in fighting preventable chronic disease. It found total spending by Ontario’s public […]
In late June, the Quebec government revealed plans to issue tenders for generic drugs in order to lower costs incurred by the provincial prescription drug insurance plan. The province hoped to elicit bids from manufacturers and grant those offering the lowest prices a three-year contract as the exclusive supplier to the government. The Canadian Generic […]
An Ontario arbitrator has struck down an employer’s imposition of mandatory generic substitution in its benefits plan. Last week, arbitrator Russell Goodfellow ruled on a grievance by United Steelworkers Local 1-2010 that challenged Eacom Timber Corp.’s move to mandatory generic substitution in 2016. As part of the change, the plan would reimburse employees only up […]
Industrial Alliance Insurance and Financial Services has introduced a drug cost management tool for its group insurance clients.
Canadian generic medicines are overpriced relative to generics in other countries, according to a study.
Some stakeholders in the health benefits community believe that the cost of new (patented) medicines threatens the sustainability of prescription drug benefits in Canada. At the same time, cost concerns are encouraging drug plan sponsors to shift to plan designs that limit access to the most innovative treatments.
The Supreme Court of Canada has upheld Ontario’s ban on pharmacy chains from selling their own private label branded generic drugs. “If pharmacies were permitted to create their own affiliated manufacturers whom they controlled, they would be directly involved in setting the formulary prices and have strong incentives to keep those prices high,” the court […]
Drug plan costs are an ongoing concern for Canadian employers. Benefits Canada’s Face to Face Drug Plan Management Forum in Vancouver shows how plan sponsors out west are managing them.