EDMONTON — Alberta is changing its deal with generic drug makers to push the cost of such prescriptions from the highest in Canada to the lowest. This change has national implications that could affect generic drug prices in other provinces, especially Quebec, which is guaranteed the lowest rate on generic drugs in Canada because of its contract with drug makers.
Starting immediately, the government says the cost of new generic drugs in Alberta is dropping to 45 per cent of the cost of name-brand drugs, creating annual savings of $50 million. And the province is negotiating with drug makers on reducing prices for existing generic drugs.