generic prescription drugs

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Provinces already employ various programs to assist vulnerable populations with medication costs.

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The Alberta government has just released the second phase of the provincial Pharmaceutical Strategy. The plan calls for decreasing public reimbursement rates for new generic drugs from 75 per cent of the price of the previously patented brand-name drug to 45 per cent. In addition, the government intends to negotiate lower prices for current generic drugs.  The annual savings are projected to be up to $50 million for new generic drugs and $150 million for generic drugs already on the market.