Ads ask executives to make sure they’re realizing savings
at a time of increased cost pressures
TORONTO (October 30, 2023) — The Canadian Generic Pharmaceutical Association (CGPA) has launched an ad campaign directed at senior executives. With rising costs to employee benefits plans, mandatory generic substitution – a clause built into plans that ensures pharmacists substitute generic medicines in place of expensive brand name drugs – is more important than ever.
“Mandatory generic substitution is a simple way to reduce the cost of employers’ benefits plans, while still providing employees with safe and effective prescription medications. We encourage executives to talk to their HR department and switch to mandatory generic substitution,” said Jim Keon, president of the CGPA.
“Last year, the use of generic medicines saved Canadians more than $33-billion. Significant savings are available for businesses, municipalities and other employers who switch to a mandatory generic substitution clause. We estimate that for every percentage increase in the use of generics, Canadians save up to $570 million more,” Keon added.
With a digital ad campaign running in publications such as The Globe and Mail and The National Post throughout the fall, CGPA is promoting the cost-saving benefits of mandatory generic substitution for health plans. By posing several rhetorical questions in an ironic way – “Your company is already saving big money, right?” – the intention of the ads is to prompt senior executives to double check that their company already has a mandatory generic substitution clause in effect.
The ad campaign was created by Toronto ad agency Key Gordon.
Grant Gordon, president of Key Gordon, said, “Even though it tested very well, it always takes guts to approve advertising that is cheeky and provocative. Kudos to CGPA for running with this creative.”
“Generic medicines are as safe and effective as their brand-name counterparts, but are a fraction of the price. The strategy of the ads is to find the companies and organizations that have overlooked employing a mandatory generic substitution clause. With the price of some generic prescription medicines as low as 10 percent of their brand name counterparts, few companies would choose not to insert this clause in their benefit plan. We want to make sure every organization knows about the option,” concluded Keon.