Ontario budget passes – includes cut to some generic drug prices

On April 24, 2012, the Ontario Legislature passed a budget which includes a reduction in the cost of the top 10 generic drugs covered by public drug plans. In 2010, the government reduced the amount to 25% of the cost of the brand drug. Now, that amount is further lowered to 20%.  The government estimates this reduction will result in savings of $55 million (Cdn) per year.

A link to the government statement can be found here.