November 28, 2020

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Why Are Prescriptions Drugs Cheaper In Canada?

Most governments consider healthcare an important national and agenda and improve the state of healthcare by regulating the prices of prescription drugs. All states have laws and policies that are meant to control the manufacture, sale, and prescription drug prices. 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. It is surprising to learn the cost of drug manufacture in more or less the same in all the states but when it comes to prescription drug prices, you will enjoy a huge financial reprieve in Canada. 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. 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. The PMPRB also works together with all the pharmaceutical companies in Canada to make the prescription drug prices low. 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. Since Canada has a large market for prescription drugs, the companies are forced to comply to avoid getting out of business. Researching the prices of the same drugs in different states has helped the board establish the right prices of prescription drugs. With this, Canadians are not worried about being exploited by local drug manufacturers. Price comparison is a method that US citizens have used to acquire prescription drugs at the best prices. It is easy to check the prescription drug prices across the border before buying.

The Canadian healthcare system puts the health of the citizens before profits. 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. Research shows that a majority of Canadians are ready to pay higher taxes to make healthcare cheaper. From this, you understand why drug manufacturing companies are always ready to go on the table with the government to negotiate drug prices. From the above discussion, you now understand why prescription drug prices are lower in Canada.