The Unintended Consequences of National Pharmacare Programs in Australia, New Zealand and the UK. VANCOUVER-As Canadian policymakers grapple with a potential national pharmacare program, we should learn from the United Kingdom, Australia and New Zealand where publicly-funded pharmacare schemes have resulted in reduced access to new drugs for patients, drug shortages, higher taxes and less pharmaceutical innovation, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
Patients have reduced access to new drugs, as pharmaceutical companies delay or even withhold new drugs if the price regulated by government is too low.
Potential drug shortages, as government-funded pharmacare programs tend to favour single suppliers, leaving patients vulnerable to shortages if the sole supplier runs out.
Higher taxes, as previous research estimates government-run pharmacare in Canada would cost taxpayers up to $13 billion per year.
Less pharmaceutical innovation in Canada, because when government mandates lower prices, there's less incentive for pharmaceutical companies to invest in research and development to create new life-saving drugs.
"Any new national drug plan should put the interests of patients first and not limit access to drugs or stifle the innovation that drives new treatments and cures," Acri said.
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https://canadafreepress.com/article/lessons-from-the-u.k.-new-zealand-australia-indicate-that-government-run-ph
Patients have reduced access to new drugs, as pharmaceutical companies delay or even withhold new drugs if the price regulated by government is too low.
Potential drug shortages, as government-funded pharmacare programs tend to favour single suppliers, leaving patients vulnerable to shortages if the sole supplier runs out.
Higher taxes, as previous research estimates government-run pharmacare in Canada would cost taxpayers up to $13 billion per year.
Less pharmaceutical innovation in Canada, because when government mandates lower prices, there's less incentive for pharmaceutical companies to invest in research and development to create new life-saving drugs.
"Any new national drug plan should put the interests of patients first and not limit access to drugs or stifle the innovation that drives new treatments and cures," Acri said.
As a privately owned website, we reserve the right to remove any comment and ban any user at any time.
https://canadafreepress.com/article/lessons-from-the-u.k.-new-zealand-australia-indicate-that-government-run-ph
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