The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
The recent announcement that Canadian provinces are moving forward on price setting for six generic drugs is expected to realize an annual savings of close to $10 million for Saskatchewan residents, private insurers and the provincial government. The price setting announcement was made Monday by Saskatchewan Premier Brad Wall and Prince Edward Island Premier Robert Ghiz through the Council of Federation. Thy led the Health Care Innovation Working Group, which recommended action on generic drug prices last summer. 'Saskatchewan is pleased to collaborate with other provinces and territories to realize significant cost savings on important drugs that patients rely on,' Health Minister Dustin Duncan said. 'By working together, we can do more to bend the cost curve.' Participating provinces and territories will leverage combined purchasing power and have agreed to establish a price point for six of the most common generic drugs at 18 per cent of the equivalent brand name drug. These six generic drugs represent about 20 per cent of the publicly-funded spending on generic drugs in Canada. Currently, individual provinces and territories pay between 25 and 40 per cent of brand name prices. The new prices are to be in effect by April 1, 2013. Duncan said the initiative will impact community pharmacies, but the province will work with pharmacies and pharmacists 'to identify opportunities to reinvest a portion of the savings into community pharmacy services.' 'We look forward to ongoing collaboration with pharmacies and pharmacists,' he added, 'to ensure Saskatchewan residents continue to have access to safe, effective and affordable medications and the important services provided by pharmacists in their communities.' The six generic drugs to be priced at 18 per cent of brand are Atorvastatin, used to treat high cholesterol; Ramipril, for blood pressure and other cardiovascular conditions; Venlafaxine, for depression and other mental health conditions; Amlodipine, for high blood pressure and angina; Omeprazole, for a variety of gastrointestinal conditions; and Rabeprazole, used to treat a variety of gastrointestinal conditions In May 2011, the Saskatchewan government announced its plan to lower generic drug prices in the province through a phased-in approach. Generic drug prices in Saskatchewan prior to May 2011 were in the range of 50 per cent to 70 per cent of the brand name prices. Most generic drug prices in Saskatchewan are now 35 per cent of brand name drugs. _ Compiled from a Government of Saskatchewan news release
