Tuesday, June 17, 2008

Canadians getting fleeced on generic drugs: report

From the Vancouver Sun:
Canadians are getting gouged more than ever on generic prescription drugs, a study by the Fraser Institute reported Monday.

The report's author called for reforms that would see consumers shopping around for the best drug prices.

The conservative think-tank found Canadian prices for generic - non-brand name, off-patent - medications are an average of 112 per cent higher than those in the U.S. In 2003, the Fraser Institute found prices here were 78 per cent higher than in the U.S.

At the same time, Canadian prices on brand-name drugs are an average of 53 per cent lower than American prices, a result of federal caps on drug costs.

The Fraser Institute report compared Canadian and American retail prices for a few hundred commonly prescribed drugs, half brand-name and the other half generics. ...more

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