Health Minister Adrian Dix has issued the following statement regarding Generics 2.0: Reduced generic drug pricing:
“British Columbia is a proud member of the pan-Canadian Pharmaceutical Alliance and held a leading role in negotiating reduced national drug pricing that led to the latest Generics 2.0 announcement. It’s a new, jointly developed five-year initiative that will result in nearly $3 billion of savings across the country. This is expected to save B.C. approximately $110 million over the span of the initiative.
“The national reduction in drug pricing means people throughout the province and country will benefit from more affordable access to generic prescription medications.
“Coming into effect on April 1, 2018, these savings will help drug plans like PharmaCare expand coverage for the people who need them the most.
“This new initiative also serves to highlight the importance of generic drugs in health care. By providing a lower-cost alternative to brand-name medications, their reduced cost helps people access the drugs they need, while maintaining quality, consistency and supply. In addition, this improves affordability and sustainability for public and private payers that provide drug benefits.
“By collaborating to work for people, this initiative will help make life more affordable for everyone, and means that fewer people will struggle to afford the prescriptions they need.
“We thank the pan-Canadian Pharmaceutical Alliance (pCPA) and Canadian Generic Pharmaceutical Association (CGPA) for striving to improve health care across the country.”