Released on January 18, 2013
Saskatchewan People Will Soon Benefit From Lower Generic Drug Prices
The recent announcement that Canadian provinces and territories are moving forward on price setting for six generic drugs will realize an estimated annual savings of close to $10 million for Saskatchewan residents, private insurers and the provincial government.
The price setting announcement was made today by Saskatchewan Premier Brad Wall and Prince Edward Island Premier Robert Ghiz through the Council of Federation. The two premiers 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 approximately 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.
“Our government is mindful of the impacts to community pharmacies as a result of this initiative,” Duncan said. “We remain committed to working with pharmacies and pharmacists to identify opportunities to reinvest a portion of the savings into community pharmacy services.”
The types of services pharmacists provide align with the goals of primary health care redesign by providing improved access to appropriate patient care and enhancing the patient experience with the health care system. In recent years, the Ministry of Health has supported a number of significant initiatives and programs, including enhanced pharmacist prescribing services, to enable pharmacists to work to their full scope of practice and to provide important medication management services for Saskatchewan residents.
“We look forward to ongoing collaboration with pharmacies and pharmacists to ensure Saskatchewan residents continue to have access to safe, effective and affordable medications and the important services provided by pharmacists in their communities,” Duncan said.
The new prices are to be in effect by April 1, 2013.
The six generic drugs to be priced at 18 per cent of brand are:
- Atorvastatin – used to treat high cholesterol
- Ramipril – used to treat blood pressure and other cardiovascular conditions
- Venlafaxine – used to treat depression and other mental health conditions
- Amlodipine – used to treat high blood pressure and angina
- Omeprazole – used to treat a variety of gastrointestinal conditions
- 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.
There are approximately 1,300 practising pharmacists and over 350 licensed community pharmacies in Saskatchewan.
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For more information, contact:
Tyler McMurchy
Health
Regina
Phone: 306-787-4083