- Feb 12, 2007
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I saw the CEO of one of the major drug companies get cornered on why the drugs were much cheaper in Canada and Mexico, and he finally came clean. The Canadians and Mexican govt. imposed "price controls" on the drugs. The company figured out how much profit they wanted to make, and since the US insurance companies would reimburse them what they asked for branded drugs that had not gone generic, they just set the price in the US to make their nut for the year. That's it. Nothing about approval process, etc.
Yeah. Those price controls in Canada are working out really well:
Canadian Pharmacists Association highlighted serious concerns over a lack of generic drugs and commonly prescribed medications, like penicillin.
Even with shelves full of medication, pharmacist Dennis Abud frequently has to tell patients in the Moncton suburb of Dieppe that their drugs just aren't available.
The national association surveyed more than 400 of its members in October to get a sense of the problem, and 70 per cent said the health of patients was adversely affected.
Almost 94 per cent of pharmacists indicated over a period of one week that they had problems finding medication to fill prescriptions.
"We try and beg, borrow and steal," said Abud. "We try to find medication. We call other stores, other companies. It's a lot of time on the phone. A lot of time talking with patients, trying physicians."
Abud said penicillin, one of the most commonly prescribed drugs, is available only in pill form....
CBC News - New Brunswick - Drug shortage worries pharmacists