Topic > Why do Canadians pay too much for pharmaceuticals?

IntroductionThe lives of many Canadians are highly dependent on the prescription drugs they take. Pharmaceutical products have become part of almost everyone's daily life. However, over the last thirty years or so there has been a dramatic increase in both the demand for drugs and their cost. On February 28, 2013, Steve Morgan published his article titled “Canadians Pay Too Much for Pharmaceuticals Year After Year” on the Huffington Post. He addressed the disadvantages of a multi-payer system and talked about how a single-payer system would be beneficial to Canada's healthcare system. This paper will address the reasons why Canadians pay excessive amounts for pharmaceutical products. Comparisons with various foreign countries and strategies for reducing drug costs will also be discussed. Canada's pharmaceutical spending and our ranking on an international scale Most drugs have allowed people to live better and longer lives, which is why we have become so dependent on them (Armstrong 51 ) However, rising costs of drugs prevents many Canadians from seeking the care they need (CBC). In Canada, total government drug plans cover approximately 46% of the total cost of prescription drugs (Armstrong 52). In 2013, Canada's total pharmaceutical spending reached $34.5 billion, or 16% of our total healthcare budget, up from $33.0 billion in 2012 (NHET 2). Since 1985, drug spending has increased from $160.01 per capita compared to $955.44 per capita in 2012 (CIHI 3). The breakdown of pharmaceutical spending in Canada is as follows: Spending on prescription drugs represents 84% ​​of total drug spending, while spending on non-prescription drugs reached approximately $5.3 billion in 2012 (CI...... middle of paper ......er year (Fan 1). In Canada the DTCPA is not entirely illegal, it allows pharmaceutical companies to mention only the name, price and quantity of a drug (CHSRF 1) are advertisements that tell consumers to "ask your doctor" and usually promote only the name of the drug (CHSRF 1). purpose of educating the public by raising awareness of new therapies, and as a result will improve the overall health of the country (CHSRF 1). The problem with any type of direct-to-consumer advertising is that it only stimulates sales of new drugs that have recently come onto the market even more expensive than pre-existing ones. drugs on the market. Another problem with new drugs coming onto the market is that they are not necessarily better than existing drugs.