Agreement between Quebec and the manufacturers of generic medicines: Quebec will save $ 300 million per year, according to Barrette

News 16 July, 2017

    QMI agency

    Sunday, 16 July 2017 10:41

    Sunday, 16 July 2017 10:41

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    An agreement with the pharmaceutical industry will allow Quebec to save $ 1.5 billion over five years on the generic drugs.

    The minister of Health, Gaétan Barrette, made the announcement Sunday morning at a press conference in Montreal.

    The savings made will be reinvested in the health system, has promised the Dr. Barrette, possibly as soon as fall 2017.

    The generic drugs usually cheaper than brand-name drugs – is for the public prescription drug insurance plan an annual expenditure of more than $ 800 million, said the minister.

    The province has passed a law that allowed him to go to tender for generic medicines, in order to lower the price. Currently, this is quebec suppliers who sell these drugs to the health system. By opening the market to competition, the government hoped to lower the price.

    The pharmaceutical industry has, however, managed to get the minister Barrette putting on pause the launch of calls for tenders in order to arrive at an agreement.