Toronto, February 2, 2015 – The following is a statement from Jim Keon, President of the Canadian Generic Pharmaceutical Association (CGPA), regarding the Government of Ontario’s “Patients First: Action Plan for Health Care.”
The Canadian Generic Pharmaceutical Association (CGPA) supports the Ontario government’s ‘Patient First: Action Plan for Health Care’ announced today by Dr. Eric Hoskins, Minster of Health and Long-Term Care.
The savings provided by generic prescription medicines are essential to the improvements that will allow Ontarians to have better and faster access to quality health services as envisaged by the plan released today. Currently generic drugs are dispensed to fill fully 65% of all prescriptions in Ontario but account for only 21% of the $9-billion spent annually on prescription medicines.
Through the National Pricing Framework agreement reached between the Council of the Federation (CoF) and CGPA, there have been massive reductions to retail or reimbursed prices of generic drugs across Canada, which will provide hundreds of millions of dollars in savings to the Ontario government, employer-sponsored drug plans and patients over the term of the agreement.
CGPA also notes Minister Hoskins’ mentioned a National Pharmacare program in today speech. As noted above, while there is already pan-Canadian cooperation on pricing of prescription drugs, CGPA believes that there may be opportunities for further savings though other initiatives such as a common approach to the listing and approval of cost-saving generic prescription medicines, and by increasing the use of generic drugs in Canada.
Now that prices have been dramatically reduced, changes are needed to take full advantage of the available savings. In the United States, for example, generic drugs are dispensed to fill fully 86% of all prescriptions. If Ontario’s utilization of generic drugs increased to the same levels as in the United States, it would save the province’s health-care system more than 2.6-billion dollars in the first year alone.”
About the Canadian Generic Pharmaceutical Association
The Canadian Generic Pharmaceutical Association (CGPA) represents Canada’s generic pharmaceutical industry. The industry plays an important role in controlling health-care costs in Canada. Generic drugs are dispensed to fill 67 per cent of all prescriptions but account for only 23 percent of the $23-billion Canadians spend annually on prescription medicines.
For more information, please contact
Vice President, Corporate Affairs
Canadian Generic Pharmaceutical Association (CGPA)
Tel: (416) 223-2333
Mobile: (647) 274-3379