Let's take the pharmacare system without the single-payer component, an organization that can buy in bulk and negotiate the purchase of necessary drugs in one go. Including or excluding this component makes quite a difference.
People often talk about New Zealand, where there are some interesting things. There, an organization can negotiate the purchase of medication. The prime example in the studies I have read is Lipitor. In Canada, one year's worth of Lipitor for an individual costs $811. In New Zealand, the cost is $15. The generic version of Lipitor costs $140 in Canada, while brand name Lipitor costs $15 in New Zealand.
Under the current system in Canada, generic drugs cost 79% more than the average for the same drugs in all OECD countries. The cost of generic drugs in Canada is four times higher than the best prices in all OECD countries. As for brand name drugs, they cost 30% more here than in countries like the United Kingdom, which has a bulk drug purchasing system.
When we talk about a pharmacare program, a public system, we are also talking about a component that would help to reduce the costs through bulk purchasing by an organization negotiating on behalf of Canada's hospital and healthcare system.
Do you agree with those numbers? Do you think a system like that could be an advantage for individuals who need prescription medication?