Inflation and Cost of Living
The Pharmacare Act aims to reduce the financial burden of prescription drugs for Canadians. It seeks to improve the affordability of pharmaceutical products by reducing financial barriers through universal coverage.
The Pharmacare Act (Bill C-64) aims to improve access to and affordability of prescription drugs and related products for all Canadians. It emphasizes collaboration between the federal government, provinces, territories, Indigenous peoples, and other stakeholders to work towards national universal pharmacare. The Act focuses on developing a national formulary of essential medicines and a bulk purchasing strategy to lower drug costs. It also requires the development of a pan-Canadian strategy for the appropriate use of prescription drugs. The Act establishes a committee of experts to provide recommendations on the operation and financing of a national pharmacare program.
Inflation and Cost of Living
The Pharmacare Act aims to reduce the financial burden of prescription drugs for Canadians. It seeks to improve the affordability of pharmaceutical products by reducing financial barriers through universal coverage.
Spending
The Act includes a commitment from the Government of Canada to maintain long-term funding for provinces, territories, and Indigenous peoples to improve access to and affordability of pharmaceutical products, starting with drugs for rare diseases. Payments will be made to provinces and territories through agreements to increase existing public pharmacare coverage for specific prescription drugs such as those intended for contraception and diabetes.