Why are Canadian drugs cheaper in price?
When we see things cheap we sometimes wonder if that has something to do with quality. It does, at times, make sense to buy more expensive products because we are sure of the quality. This is the reason we prefer branded clothes over unbranded clothe
The primary reason for Canadian drugs being cheaper than American drugs is due to the intervention of the Patented Medicine Prices Review Board. The Patented Medicine Prices Review Board is a Canadian government agency that regulates the price of Canada drugs. This board was formed in 1987 and since then it has managed to make Canadian medicines available to regular citizens.
The Patented Medicine Prices Review Board maintains an upper ceiling on the cost of Canadian drugs that Canadian pharmaceutical companies can charge Canadian pharmacies. Since the pharmaceutical companies cannot dictate their price, the pharmacies are also able to sell the medicines to their customers at a lower cost.
The Patented Medicine Prices Review Board also maintains the balance between existing and new Canada drugs. It is common practice of pharma companies to charge more for new drugs. When there is a balance between existing and new Canadian drugs it becomes possible for the Board to keep the cost in check.
The Canadian government, on its part, allows senior Canadian citizens to bargain with pharma companies over the price of new Canada drugs. Every Canadian state has a formulary and for medicines to sell in that state, they have to be part of the formulary. Senior citizens of Canada are able to dictate prices of new medicines so that they are included in the formulary. This is another reason why Canadian drugs are cheaper.
When you buy medicines you actually pay to pharmaceutical companies for meeting their legal expenses. What this means is that a part of your payment is used to fight legal cases that pharma companies face quite often. However, Canadian citizens are not as ready on the button to sue pharmaceutical companies as American citizens are. So, the amount paid for legal expenses by Canadian citizens is lower. Damages awarded in Canada are also considerably lower than those in the US. So, Canadian pharmaceutical companies can keep lower amounts aside for legal expenses. This is why they can keep the price of Canada drugs lower.
Finally, the cost and standard of living in Canada also contributes to the lower cost of Canada drugs. Staying in the USA is way expensive than staying in Canada. What an American pharmaceutical company can charge for medicines in USA cannot be charged in Canada. So, the cost of Canadian drugs is lower.
These are all valid reasons for the cheaper price of Canadian drugs and you as an American citizen can benefit from this. Start buying Canada drugs today and you will soon see savings at the end of the month.
Resource Box: There are some valid reasons why Canadian drugs are cheaper than American drugs. Buy cheap Canada drugs and you can save tons of money.
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