A Beginners Guide To
Understanding Why Prescription Drugs Are Cheaper 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. All states have laws and policies that are meant to 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. In as much as the cost of manufacture of drugs in the neighboring states are almost the same, Canadians enjoy low prescription drug prices. Living in a state when you cannot afford prescription drugs is a health risk and this is not usually an issue for Canadians as prescription drug prices are quite low. Read on to learn the reasons behind the pricing difference.
The first reason why prescription drug prices are low in Canada is that the government has strict regulations and policies that limit the prices of drugs released to the market. Patented Medicine Prices Review Board (PMPRB) has the mandate to review the prices of prescription drugs and that explains why pet drugs are affordable to Canadians. 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.
PMPRB also forbids pharmaceutical companies to sell drugs that are deemed to be expensive for consumers. This is a big threat that forces the pharmaceutical companies to lower the prices of prescription to enjoy 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. This way, Canadians are not worried about exploitation by the local pharmaceutical companies. Price comparison is a method that US citizens have used to acquire prescription drugs at the best prices. As a US citizen, you should find out prescription drug price across the border.
The healthcare systems put more focus on the consumers than the profit-making interests. 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. This article proves, that the government has played a huge role in ensuring that prescription drug prices are lower in Canada.