The province is touting Bill 35, which was introduced before the legislature yesterday, as a way to regulate and lower prescription drug prices.
According to the government, the Pharmaceutical Services Act would lower generic drug prices from 35% of brand-name prices to prices that are “in line with other jurisdictions.”
The province plans to reinvest savings from lowering the cost of generic drugs to enhance patient care in various ways, including keeping PharmaCare affordable to lower-income B.C. seniors and families.
According to the government, the bill would create a framework that allows the Ministry of Health to regulate and further lower drug prices for all B.C. patients. The province contends that this will create savings for both the public health-care system and residents paying for prescription drugs.
“The cost and accessibility of pharmaceutical drugs is an area of great concern to patients, health professionals, governments and the public,” said Health Minister Michael de Jong.
The bill would also protect with legislation the $1 billion PharmaCare program, which currently relies on government policy.
