Canadians often think that their prescription drugs are cheap. Otherwise, why would so many Americans cross the border to buy them ?
Yet in the last five years, Canada has been the world’s third most expensive country for brand-name drugs.
In 1987, Canada passed changes to the Patent Act extending patent protection for prescription drugs from 17 to 20 years after brand-name drug companies agreed to spend 10 per cent of their sales on research and development. The rationale was simple : a generous patent policy for brand-name companies would ensure a more competitive, innovative pharmaceutical sector in Canada.
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