More than half of Canadian drugs generic

March 26, 2009 at 4:01 PM   |   Comments

TORONTO, March 26 (UPI) -- For the first time, most of Canada's prescriptions were generic medicines, a report of sales data released by IMS Health Canada said.

Generic drugs were dispensed to fill 51.6 percent of all prescriptions in Canada in 2008 yet accounted for only 23 percent of the $21.4 billion spent on prescription medicines.

"The savings provided by lower-cost generic medicines has never been more important to Canada's healthcare system and its economy," Jim Keon, president of the Canadian Generic Pharmaceutical Association said in a statement.

"Given the current economic crisis, it is becoming increasingly important for Canadian governments, taxpayers, businesses and patients to maximize their use of generic prescription medicines in order to make public and employer-sponsored drug benefit plans affordable and sustainable."

The report also said that:

-- In 2008, the use of generic prescription drugs saved Canada's healthcare system approximately $3 billion.

-- The average price of a brand name prescription in Canada is $64.19, while the average price of a generic prescription is $26.07.

-- In the United States, generic drugs are dispensed to fill 69 percent of all prescriptions.

© 2009 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Most Popular
Fewer prescription pill overdoses in medical marijuana states
New data shows Melbourne is most well-rested city in the world
New research details rare cancer that killed Bob Marley
Poll: 26 percent of Americans believe they will get Ebola
Daughters more likely than sons to care for elder parents
Trending News