HomeInsuranceWith a pharmacare bill on the horizon, Big Pharma’s attack on single-payer...

With a pharmacare bill on the horizon, Big Pharma’s attack on single-payer drug coverage for Canadians needs a fact check

Health Minister Mark Holland announced in August that the federal government intends to introduce pharmacare legislation in the fall. Now the battle lines are being drawn.

One of the many virtues of pharmacare — a universal drug coverage plan — is that there will be a single bargaining agent looking for lower prices from the drug companies. Australia has a single buyer and has brand-name prices that are on average 29 per cent lower than Canada’s. That difference on Canadian annual sales of $17.4 billion translates into savings of about $5 billion.

Pharmaceutical and insurance industries that stand to lose profit through lower drug prices are not happy about pharmacare. They are speaking out and mobilizing their allies.

‘Fill in the gaps’

Innovative Medicines Canada, the lobby group for Big Pharma, is pushing for a “fill in the gaps” model. That means providing…

Read more at theconversation.com

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