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How Much Cheaper Are Canadian Pharmacies Compared to the United States?
If you live in the US, you’ve probably noticed how expensive prescription drugs are. In fact, the United States has some of the highest prescription drug prices in the world.
Fortunately, there are alternative options. Many Americans are looking to Canada to buy their prescription medications.
Why? Because Canadian pharmacies sell medications at a lower price than US pharmacies. But just how much cheaper are Canadian pharmacies than American pharmacies?
Here we’ll explore the price of Canadian pharmacies compared to American pharmacies. Keep reading to learn more.
Factors Influencing High Drug Prices in the United States
To answer this question, let’s first take a look at the factors that contribute to the high cost of prescription drugs in the US.
One of the main reasons for the high prices is the fact that the United States does not regulate drug prices like many other countries do. This means that pharmaceutical companies are free to set their own prices for medications, which can be quite high. Additionally, the United States has a complex and fragmented healthcare system, which can also drive up the cost of drugs.
The high cost of prescription drugs in the United States can be a major burden for many Americans. It can be especially hard on those who do not have good health insurance (or insurance at all).
Besides the high cost of the drugs, there are often extra fees associated with getting a prescription, such as copays and deductibles. These costs can add up quickly, making it difficult for many people to afford the medications they need. So much so that eight in ten adults agree the cost of prescription medication in the US is too high and unreasonable.
Reasons for Lower Medication Prices in Canada
In contrast, Canada has a single-payer healthcare system. This means that the government negotiates with pharmaceutical companies to set the price of drugs. As a result, the prices of prescription drugs in Canada are generally much lower than in the US.
In Canada, the Patented Medicine Prices Review Board (PMPRB) regulates the prices of prescription drugs to make sure they are not excessive. This price set is based on a number of factors, including the cost of the drug, the size of the Canadian market, and the price of the drug in other countries.
It is the responsibility of the PMPRB to review the prices charged for drugs. Patentees may be ordered to lower drug prices by the Board if it determines the price is excessive. Patentees are often required to pay excess revenue as a result of this.
Canadian Drug Prices vs. US Drug Prices
So, just how much cheaper are Canadian vs US pharmacies? The answer really depends on the specific drug you are looking for. Some medications may only be slightly cheaper in Canada, while others can be significantly less expensive.
For example, a recent study found that the price difference can be dramatic for certain brand-name drugs. For example, some popular medications can be nearly 70% cheaper in Canada compared to the US. The lower cost can be a lifesaver for people who need to take multiple medications.
It can be hard for Americans to properly care for their health due to the high cost of drugs. Thankfully, Canadian pharmacies save many people hundreds and even thousands of dollars per year on their medications.
The Cost-Saving Benefits of Canadian Pharmacies
Canadian pharmacies provide an affordable option for Americans who want to save money on their prescription drugs. The prices of drugs in Canada are generally much lower than in the US, thanks to the country’s single-payer healthcare system. Some Canadian pharmacies even have coupons online.
No Need for Insurance
In the US, prescription drug prices are often based on the patient’s health insurance policy. This can lead to high out-of-pocket costs for those without insurance or with limited coverage. In Canada, however, there is no need for insurance.
Increased Competition
The Canadian pharmaceutical market is more competitive than the US market, which encourages companies to lower their drug prices. In turn, consumers can enjoy lower medication costs.
Greater Accessibility
In some cases, certain prescription drugs are not available or in short supply in the US. By using a Canadian pharmacy, Americans may be able to access these drugs easily. Learn more here about how to order medications easily from Canada.
Convenience
In addition to cost savings, Canadian pharmacies also offer the convenience of being able to order medications online. If you live in a rural area or have a hard time getting to your local pharmacy, you may find this especially beneficial. Many Canadian pharmacies offer fast and reliable shipping options to the US, so you can have your medications delivered right to your home.
How to Find Reputable Canadian Pharmacies
If you are considering purchasing your medications from a Canadian pharmacy, always do your research and make sure you are dealing with a reputable pharmacy.
Look for pharmacies that are verified with a Canadian Pharmacy Regulatory Authority. These organizations ensure that their pharmacies meet strict standards for quality and safety.
Shop Cheap Prescription Drugs at Canadian Pharmacy Online Today
Canadian pharmacies are a convenient and cost-effective alternative to buying expensive medications in the US. Plus, many Canadian pharmacies offer quick delivery options, so you can get your medicine shipped right to your doorstep.
If you’re looking for a reputable pharmacy with a large selection of high-quality prescription drugs, look no further than Canadian Pharmacy Online. We’re your trusted pharmacy for affordable medications from Canada. Shop our selection online now!
Works Cited:
https://www.cnbc.com/2019/01/10/why-prescription-drugs-in-the-us-cost-so-much.html
https://www.canada.ca/en/patented-medicine-prices-review.html
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC359423/