BC reduces generic drug prices for public and private payors

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On Friday July 16th, a new agreement between BC Ministry of Health Services, the BC Pharmacy Association and the Canadian Association of Chain Drug Stores was announced. This Agreement is  effective July 28, 2010 through to March 31, 2013.

Overview of Key Changes

 

Topic

Current Program

Changes to Public Plan

Pricing for generics listed on the Provincial PharmaCare Formulary



 

Existing generics:

65% of the cost of brand

New generics:

(generics launched from Nov 2008 to present) 50-70% of the cost of brand

Effective July 28 2010:

New generics (generics launched since Jan 1, 2009  reduced to 42% of brand

Effective Oct 15/10:
Existing generics reduced to 50% of brand

New generics continue to be priced at 42% of brand

Effective July 04/11:

All generics reduced to 40% of brand

Effective April 02/12:

All generics reduced to 35% of brand

Dispensing fees

The current dispensing fee paid by PharmaCare is $8.60

Effective

July 28/10: increased to $9.10

Oct 15/10: increased to $9.60

July 04/11: increased to $10.00

April 02/12:increased to$10.50

Markup on drug costs

The current markup allowed by PharmaCare is 7%

Effective Oct 15/10: increased to 8%

 

Great News! Reduced generic drug pricing will be extended to the private market so now residents in British Columbia have access to more affordable medications. We will continue to monitor the impact of these policy changes and provide you with regular updates. 

Need additional Information?

You can find more information on the government of BC website.

Questions?

Please contact your Client Service Administrator at 1-877-786-7227.