Tuesday, July 31, 2007

Generic drug prices skyrocketing in Canada: study

From Reuters:
Canadian government policies have driven up prices of generic prescription drugs so dramatically that they are more expensive than their U.S. counterparts, a study showed on Tuesday.

Prices of generic prescription drugs in Canada were, on average, 115 percent higher than U.S. prices, a study by Canada's Fraser Institute showed. However, Canadian brand-name prescription drugs were about 51 percent cheaper than those in the U.S.

"Canadians pay more for generic drugs because government policies shield generic drug companies and pharmacy retailers from normal market forces that would naturally reduce prices," the study said. ...more

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