16 May 2017 - Canada has the third-highest prescription-drug prices in the world, behind only the United States and Germany.

That’s because our regulatory regime for pricing drugs is outdated and ineffectual, a self-inflicted wound that costs taxpayers and employers billions of dollars annually.

Canadian prescription drug prices are 35% higher than the average among other developed countries. To put that in more digestible form, consider that $13.7 billion in patented medicines were sold in this country in 2014; if Canadians had paid the OECD average instead of our own inflated prices, the bill would have been $3.6 billion less.

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