EDMONTON — The Alberta government says it will pay out $40 million this year to help pharmacists adjust to the new world of lower payouts for generic drugs.
Health Minister Fred Horne says the money will help cover the costs for generic drugs that pharmacists have already bought at the older, higher prices.
There will be more money to keep rural pharmacies open and there will be funds set aside to train more pharmacists to perform more billable tasks.
As of May 1, Alberta is cutting in half the amount it covers on generic drugs to 18 per cent of the cost of brand name drugs.
The Alberta Pharmacists Association has been warning of dire consequences with the price reduction.
The pharmacists says the reduction will lead to layoffs and possible pharmacy closures.