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The main difference is that patented drug prices in Canada average between 35% and 45% lower than in the United States, though generic prices are higher. The price differential for brand-name drugs between the two countries has led Americans to purchase upward of $1 billion US in drugs per year from Canadian pharmacies.
External reference pricing ( ERP ), also known as international reference pricing, is the practice of regulating the price of a medication in one country, by comparing with the price in a "basket" of other reference countries. It contrasts with internal reference pricing, where the price of one drug is compared to the domestic price of ...
Within the year of 2014, the cost of prescriptions had increased by at least 11.4% and 58% within the last eight years. The average cost for a month supply of brand-name drugs can run up to a couple of hundred US dollars, whereas in Canada and Great Britain the same medication could cost up to $40 US dollars.
In 2021, the U.S. Government Accountability Office did an estimate comparison of the prices for 20 brand-name drugs in the U.S. to the same drugs in Australia, Canada and France.
The Food and Drug Administration on Friday cleared the way for Florida's first-in-the-nation plan to import prescription drugs from Canada, a long-sought approach to accessing cheaper medications ...
Drug costs in the U.S. are higher than in Canada and other countries where government-run healthcare systems negotiate prices for individual prescription drugs. But importation faces challenges.
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