29 January 2018 - On behalf of participating federal, provincial, and territorial public drug plans, the pan-Canadian Pharmaceutical Alliance (pCPA), with the Canadian Generic Pharmaceutical Association (CGPA) have jointly developed a new five-year initiative that will provide significant savings for all Canadians who use prescription generic drugs, participating public drug plans, and employee drug plans.

As of 1 April 2018, the prices of nearly 70 of the most commonly prescribed drugs in Canada will be reduced by 25% - 40%, resulting in overall discounts of up to 90% off the price of their brand-name equivalents. These drugs include those used to treat high blood pressure, high cholesterol, and depression, and are collectively used by millions of Canadians.

More than 70% of all prescriptions reimbursed under Canada's public drug plans are generic drugs. This new initiative will not only provide savings to patients and increase the sustainability of drug plans, but will also improve pricing consistency across the country, and help drug plans increase access to new drugs in Canada.

Read pan-Canadian Pharmaceutical Alliance press release