Why Are Prescriptions Drugs Cheaper In Canada?
Quality healthcare is a top agenda in many states and one of the strategies used to improve healthcare is regulating the cost of drugs. States have laws and policies that govern the manufacture, sale, and pricing of prescription drugs. Canada is one of the states in the world that have managed to control prescription drug prices and most people do not understand why so. 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.
The low-pricing of prescription drugs in Canada is contributed by the strong regulations and policies that are in place to limit the pricing of drugs. 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. Through subsidizing the cost of manufacture for the pharmaceutical companies, the prescription drugs prices have remained low.
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. To ensure that the pricing is reasonable, the board compares the prices of different drugs in many states across the globe. Canadians are therefore assured that they are paying the right amount for the prescriptions drugs. 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 entire healthcare system has the culture of putting the health of the citizens first. The goal of every pharmaceutical company is to make profits but this comes after ensuring that the citizens can access the drugs without price limitation. Statistics show that Canadians are usually willing to pay more taxes for universal healthcare to be achieved. It, therefore, explains why pharmaceutical companies are usually willing to negotiate drug prices with the government. From the above discussion, you now understand why prescription drug prices are lower in Canada.