Through the pan-Canadian Pharmaceutical Alliance, Canadian provinces and territories have developed a new initiative with the Canadian Generic Pharmaceutical Association that will significantly reduce the price of some of Canada's most commonly prescribed generic drugs.
Saskatchewan residents are expected to see lower prices on generic drugs treating a variety of conditions, including high blood pressure, high cholesterol, and depression, effective April the first of 2018.
Nearly 70 generic drugs will be reduced by 25 to 40 percent, resulting in overall discounts of up to 90 percent off the price of their brand name equivalents.
Mark Wyatt, Assistant Deputy Minister of Health says, "While we're seeing, ya know, very significant savings as I said up to six million dollars in the first year for Saskatchewan, the savings won't just be to the government plan. Individuals and private drug plans, employer plans, they will also benefit from these reductions in prices."
After five years, Wyatt says, the initiative will be re-visited.