CPhA welcomes announcement of agreement to lower generic drug prices

The Canadian Pharmacists Association (CPhA) today welcomed the announcement of an agreement reached between the Government of British Columbia, the British Columbia Pharmacy Association, and the Canadian Association of Chain Drug Stores to lower generic drug prices and invest in expanded pharmacy services. The agreement will see generic drug prices lowered to 35% of their brand name equivalent, while at the same time increasing the maximum dispensing fee over a three year period, and by year three of the agreement, reinvesting $35 million into expanded pharmacist services like medication management. These changes will result in a higher level of care for patients and a more sustainable health system for B.C.

CPhA is particularly pleased that the government took a collaborative approach in negotiating these changes, working closely with the BC pharmacy profession to strike a balance between lower drug prices and enhanced pharmacist services. Furthermore, the phased in approach of a three year increase in the dispensing fee and ongoing negotiation over expanded clinical pharmacy services will provide pharmacists with the time and flexibility to adjust to these changes.

"Today's announcement in BC is a positive step forward in enhancing patient care and patient outcomes for British Columbians," stated Ruth Ackerman, President of CPhA. "With a recognition of the importance of medication management, and with funding provided to expand clinical pharmacy services, the agreement will improve the ability of BC patients to access needed medication therapy management from their community pharmacists to optimize patient outcomes from drug therapy."

"The changes announced today in British Columbia as a result of the successful collaboration between government and the pharmacy profession should serve as a model for other jurisdictions looking to reform drug pricing and professional service models," stated Jeff Poston, Executive Director of CPhA. "We congratulate the BC government for choosing a collaborative, patient-focussed approach rather than a legislated, unilateral approach."