Understanding Why Prescription Drugs Are Cheaper In Canada
In many states, you will realize that quality healthcare is a top priority and that explains the policies that are enacted to lower prescription drug prices. There are laws and guidelines that control the manufacture, sale, and prescription drug prices. Canada is one of the states in the world that have managed to control prescription drug prices and most people do not understand why so. What is shocking is that the cost of manufacture of the prescription drugs is usually the same, but for Canadians getting the drugs is less costly. Living in a state when you cannot afford prescription drugs is a health risk and this is not usually an issue for Canadians as prescription drug prices are quite low. Keep reading this article to learn why prescription drug prices are significantly lower in Canada that neighbor states such as US.
The first reason why prescription drug prices are low in Canada is that the government has strict regulations and policies that limit the prices of drugs released to the market. The government has set up a board referred to as Patented Medicine Prices Review Board (PMPRB) that reviews the prices of all prescription drugs in the market and that is why you can get pet drugs at a cheaper price. The PMPRB also works together with all the pharmaceutical companies in Canada to make the prescription drug prices low. Through subsidizing the cost of manufacture for the pharmaceutical companies, the prescription drugs prices have remained low.
PMPRB also forbids pharmaceutical companies to sell drugs that are deemed to be expensive for consumers. This policy has forced pharmaceutical companies to limit the prices of drugs to access the large market share in Canada. The board compares the prices of drugs in different states when setting the pricing limits in Canada and that explains why prescriptions drugs prices are the lowest across the globe. This way, Canadians are not worried about exploitation by the local pharmaceutical companies. Price comparison is a method that US citizens have used to acquire prescription drugs at the best prices. If you live in the US, you should figure out prescription drug prices in Canada to avoid paying more than you should to your local chemist.
The entire healthcare system has the culture of putting the health of the citizens first. Pharmaceutical companies are in the business to make profits but ensure that the drugs are available to the consumers. Research shows that a majority of Canadians are ready to pay higher taxes to make healthcare cheaper. From this, you understand why drug manufacturing companies are always ready to go on the table with the government to negotiate drug prices. The above-discussed reasons explain why prescription drug prices are quite low in Canada than other states.