A new agreement between the pan-Canadian Pharmaceutical Alliance and the Canadian Generic Pharmaceutical Association will reduce the prices of nearly 70 generic drugs. The included drugs are used to treat conditions such as high blood pressure, high cholesterol and depression.
Under the January 29 agreement, the prices of these generic drugs will be reduced by 25% to 40%. Effective April 1, the prices will be as low as 10% to 18% of the cost of their brand name equivalents for all Canadians covered by a public or private drug insurance plan. The drugs are manufactured by several companies to ensure a stable supply and pricing will vary by province.
