menu

Why government not focusing to provide cheap generic medicine

0
1062 views

Healthcare
Pharmaceutical Industry
Government
Mahak Singh
32 months ago

4 answers

0

In Canada, the government has made significant moves to reduce the price of generic drugs. As of April 1, 2018 the price of nearly 70 commonly prescribed generic drugs dropped by an average of more than 40%. Many of those drugs are now priced at only 10% of the equivalent brand drug. More information can be found in this joint statement https://www.newswire.ca/news-releases/a-joint-statement-from-the-pan-canadian-pharmaceutical-alliance-and-the-canadian-generic-pharmaceutical-association-671651014.html

Derek Desrosiers, RPh
31 months ago
Because it is cheap. PS: The government provides tax money; it does little else? - Dr. David E. 22 months ago
There is no CMS drug price competition. - Dr. David E. 22 months ago
Domestic healthcare is not free market competition. - Dr. David E. 22 months ago
The federal government is the largest payer. - Dr. David E. 22 months ago
Middle men, like PBMS, are costly. - Dr. David E. 22 months ago
R and D is costly. - Dr. David E. 22 months ago
Drug patent laws are antiquated. - Dr. David E. 22 months ago
David, I am not exactly sure what your message is with some of these comments. I agree that R&D is not cheap and drug patent laws are antiquated. But, in the context of my response to the question, provincial governments in Canada are directly responsible for reducing the price of generic drugs with their intervention. - Derek 22 months ago
IN Canada the Federal government is NOT the largest payer. - Derek 22 months ago
Governmental intervention - cradle to grave - when and where does it stop? - Dr. David E. 22 months ago
If you end the trade pipeline; the generic line soon follows. - Dr. David E. 22 months ago
0

The pharma company takes the risk to development new medicines. This is costly as they have to hire expert scientists and not all ideas lead to products. For this governments offer them patent protection for a certain number of years, where it is not allowed by competitors to release generic medicine, based on reverse engineering. If this temporary protection would not be allowed, pharma companies lose the motivation to invent, and required new medicine will not be available.

On the other hand, certain diseases may affect more low income groups. Here exist the risk that pharma industries will not invest the required resources to invent efficient medicine. Here governments, including United Nations, have to become active.

Patrick Henz
22 months ago
0


On Foreign Monopolistic Tendencies

Domestic private companies leave the generic drug business because of low margins. Soon, few to none exist. Then, government supported public companies as in China, swoop in with exorbitant prices.

This is happening now with commonly used penicillin, doxy-cycline and heparin. Not too difficult to understand.

Dr. David E. M
22 months ago
0

Lack of political will, narrow profits for generics.
In the Philippines there is the Generic Law that is implemented and even large pharmaceuticals produce generic medicines

Edna Cuaresma, MD, LlB
20 months ago
But, P is fiscally shaky, too - if not insolvent - same pharma as States, as well - Dr. David E. 20 months ago
Same here. Novartis owns Sandoz and Pfizer has their own generic divisions/companies, namely Greenstone in the US and Genmed in Canada - Derek 20 months ago
Agreed - many thanks - Dr. David E. 20 months ago

Have some input?