Why Are Prescriptions Drugs Cheaper In Canada?
Most governments consider healthcare an important national and agenda and improve the state of healthcare by regulating the prices of prescription drugs. All states have laws and policies that are meant to control the manufacture, sale, and prescription drug prices. In Canada, prescription drug prices are quite low as compared to the neighboring states such as the United States and most people do not understand how that has maintained a low pricing for the drugs. It is surprising to learn the cost of drug manufacture in more or less the same in all the states but when it comes to prescription drug prices, you will enjoy a huge financial reprieve in Canada. No one wishes to live in a state where they cannot afford prescription drug prices and the best choice of state for you is Canada. The article herein will help you understand why prescription drug prices are low in Canada.
One of the things that have contributed to the low pricing of prescription drugs in Canada are the strong policies and laws that monitor the pricing of drugs. Through the Patented Medicine Prices Review Board, the state can review the prices of different prescription drugs released in the market including those meant for pets. The PMPRB also works together with all the pharmaceutical companies in Canada to make the prescription drug prices low. Through government subsidies, the pharmaceutical companies are capable of lowering the cost of production hence low pricing for prescription drugs.
The other way through which the board ensures that the prices of drugs are reasonable is preventing pharmaceutical companies to sell expensive drugs to consumers. This is a big threat that forces the pharmaceutical companies to lower the prices of prescription to enjoy the large market share in Canada. To ensure that the pricing is reasonable, the board compares the prices of different drugs in many states across the globe. Canadians are therefore assured that they are paying the right amount for the prescriptions drugs. 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 Canadian healthcare system puts the health of the citizens before profits. In as much as pharmaceutical companies are profit-making organizations, the goal is to ensure that the consumers can access the prescription drug at an affordable price. According to statistics, Canadians are ready to pay more as taxes to ensure that universal healthcare is implemented by the state. 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.