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Albertans to benefit from reduced prices for existing generic drugs
New price becomes effective April 1
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Edmonton, February 1, 2010 - The Government of Alberta has taken another step to reduce generic drug costs. Effective April 1, the price of currently available or existing generic drugs will be reduced from 75 per cent to 56 per cent of the price of comparable brand name drugs. Existing generic drugs are generic drugs already included on our Alberta Drug Benefit List as of October 1, 2009.
"Last fall we reduced the price of new generic drugs and promised we would also reduce the costs of existing generic drugs - and that's what we've done," said Alberta Health and Wellness Minister Gene Zwozdesky."After extensive consultations and negotiations with many pharmacy stakeholders, we have a deal - lower generic drug prices for Albertans!This deal also means significant cost savings for our Government."
Reducing generic drug prices is part of phase two of the Alberta Pharmaceutical Strategy, which was announced in October 2009. At that time, the price of new generic drugs was reduced from 75 per cent to 45 per cent of the price of comparable brand name drugs. A new generic drug is any generic drug added to the Alberta Drug Benefit List after October 1, 2009.
Phase two of the Alberta Pharmaceutical Strategy also includes additional compensation for pharmacists to perform expanded services such as patient consultations, medication reviews and immunizations. This will allow pharmacists to better meet the needs of their patients.
"Pharmacists play an integral role in the health of the communities they serve.Having grown up in rural Alberta, I am also aware of the issues that rural pharmacists face in some of our smaller communities," added Zwozdesky."Therefore, we will work with all of our stakeholders to ensure pharmacies remain an important part of Alberta's health care system."
In addition, phase two enables Alberta to negotiate contracts with brand name drug manufacturers to reduce costs through volume discounts, provide faster access to new, innovative drugs and help fund health research.
The Alberta government has a clear plan for a strong economic recovery. An important part of The Way Forward is maintaining support for programs and services Albertans need most, such as health care, education and safe and vibrant communities. For more information on the plan, visit Alberta.ca.
For More Information Contact :
Gene Zwozdesky
Minister
Health and Wellness
780-446-1144 (cell)
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