Canadian Drug Laws Keeps Drug Prices on Tether

Millions of Americans are buying their requirements of prescription drugs on line, mainly from Canadian online pharmacies that offer significantly lower prices than US pharmacies. Similarly, millions are wondering why, the prices are poles apart when the two countries are so closely located. After all, prices that are sometimes as low as 80%  is certainly a shocking discover. “We have new customers who’s first question is regarding the quality of our drugs, because they are suspicious that the prices being so low. But once we give them the FDA approval and Health Canada approval details for these drugs, they are convinced” revealed a spokesperson for Big Mountain Drugs, a leading online Canadian pharmacy. Delving further, the secret to this magic price slashing by even the most reputed of Canadian pharmacies that have been in existence for over a decade was unearthed. It’s got nothing to do with low quality drugs. It’s simply to do with drug laws and the price regulatory mechanisms functioning in Canada, aiming to give social benefits to the populace. The Main Government authorities and agencies having a direct impact on the drug prices are Health Canada, Patented Medicines Prices Review Board (PMRB), Common Drug Review(CanadianAgency for Drugs and Technologies in Health) and public drug plans. These authorities exercise their powers to keep the drug prices at reasonable levels, without allowing the pharmaceutical companies to rip off even the meager pockets of citizens, as is the case in the US.

Health Canada has to approve new drugs before they can be marketed in Canada. The new patented drugs have a virtual monopoly and the government steps in to limit the prices if the prices are excessively high. PMRB is the government authority that sets the price caps for the drugs that are under patent protection. It places an upper ceiling for the prices for the sale of drugs by the manufacturers to bulk purchasers. Drug stores can sell the drugs at lower retail prices. Provincial governments play an important role in bringing down the retail prices as the state funded health insurance claims are reimbursed by the provincial government offices.

Provincial governments have to approve new drugs to be included in their drug plans. All the drugs approved by Health Canada are not included in the provincial drug formularies. In some provinces only 35% of the government approved drugs are in the formulary. As the provincial governments have the biggest healthcare plans they are in a position to bargain with the pharmaceutical companies for lower prices. This results in lowered retail prices saving tax dollars to the provincial governments, and higher savings for insurance companies and individuals who have to meet their medical expenses. Online pharmacies in Canada sell drugs to world wide customers including US, at comparably lower Canadian prices.

The time taken for the approval in different provinces can vary widely. But the quick approval leads to lower prices to be effective on an earlier date, making huge savings to public drug plans, insurers and the patients. Recent changes in the approval procedures to accelerate the approving process in New Brunswick, has been praised by the N.B. Pharmacists' Association. Provincial government moved into make the approval of generic version of Plavix, the best selling drug for heart attacks, in response to a request made by the N.B. Pharmacists' Association.

British Columbiahas one of the formularies with a widest range of drugs. Prices of the prescription drugs also are lower in British Columbia. A spokesperson from the leading Canadian online pharmacy stated “We offer a very wide range of high quality drugs at the most competitive prices. Our brand name drugs are 65% cheaper than in US and the generic versions are sometimes 85% cheaper. With our discount schemes customers can save more.”

Big Mountains Drugs is a licensed pharmacy operating in British Columbia and is a verified member of Canadian International Pharmacy Association (CIPA). In addition to their regular pharmacies, they serve to a worldwide clientele through its website BigMountainsDrugs.com. Big Mountain Drugs has been verified by Pharmacychecker.com an independent company that verifies the credentials and service of international online pharmacies. It is registered and licensed in British Columbia, Canada by College of Pharmacists of British Columbia.

Author

Big Mountain Pharmaciesprovides a wide portfolio of branded and generic prescription as well as OTC Drugs at affordable prices via its Online Canadian Pharmacy. Customers can now enjoy the benefits of high quality drugs as Levemir 100 IU and various other Canada prescription drugs delivered worldwide to their doorstep.