Generic drug deal to save Quebec more than $300 million yearly: Barrette
MONTREAL — The Quebec government says it will save more than $300 million a year on generic drugs after reaching a deal with the association representing Canada’s generic pharmaceutical companies.
Health Minister Gaetan Barrette believes the five-year agreement in principle will save the province $1.5 billion, which will be redistributed in the health-care system.
The Canadian Generic Pharmaceutical Association said the deal includes further price discounts and the launch of new cost-saving generic prescription medicine.
Quebec already spends about $800 million a year on generic drugs and Barrette wanted to reduce those costs.