Canadian Pharmaceutical Supplier
Canadian Pharmaceutical Supplier
Canada is a leading market for U.S. pharmaceutical exporters and among the top ten pharmaceutical markets globally due to a growing elderly population, high per capita pharmaceutical spending, and an advanced regulatory system. While recent Supreme Court rulings may improve intellectual property protection in Canada, the government has also proposed new regulations to lower prices for patented medicines by revising its reference pricing system, using pharmacy economic evaluations, and forcing companies to disclose confidential pricing agreements. There have not been significant changes to Canada’s market authorization and product certification requirements for medical devices since 2011. The medical device industry consists of firms that produce a wide range of products used for diagnosis and treatment of ailments, which include the following: medical, surgical and dental equipment (including electro-medical equipment and related software), furniture, supplies and consumables, orthopedic appliances, prosthetics and diagnostic kits, reagent and equipment. The Canadian medical device industry is highly diversified, making it the ninth largest in the world. The market is sophisticated and mature, with developments in science and healthcare expected to contribute to the industry’s growth in the years ahead. The Canadian medical device industry employs over 35,000 people and is home to approximately 1500 corporate facilities. The industry is comprised of small, medium and large sized facilities. Large companies (100+ employees) represent 43 percent of the industry’s employment.
The current pharmaceutical policy landscape in Canada includes a focus on timely and affordable access to prescription medications, as well appropriate use. Vital to policy discussions is the need to ensure markups reflect the true operating and investment costs incurred by wholesalers and pharmacists. It is also important to be transparent on the role and value of each stakeholder within the pharmaceutical chain to decision-makers, as well as to the broader public.
High Quality Pharmaceuticals
- Generic Drugs
- Nasal Sprays
- Ophthalmic Solutions
- Optic Solutions
- Over the Counter (OTC) Drugs
- Rx Prescription Drugs
- Surgical Scrub Wipes & Solutions
- Tablet Coatings
Costs
Wholesale up-charge: The percentage markup charged over the original drug cost on prescription drugs sourced via wholesalers or other distributors. The term is often considered synonymous with the terms “wholesale markup,” “wholesale allowance,” and “distribution allowance.”
Professional services—dispensing fee and other pharmacy fees: The dispensing fee is charged by a pharmacist for dispensing a prescription, while other pharmacy fees include professional services provided by community pharmacies such as administering vaccines or doing advanced medication review and management.
Out-of-pocket: An amount that a beneficiary of a drug plan or customer without a drug plan is required to pay for a prescription (can include deductibles, co-payments, co-insurance, and other out-of-pocket expenses). Some of the plans have maximum out-of-pocket limits.
Public insurance: drug benefit plan offered to eligible groups by provinces/ territories and the federal government. Some are income-based programs, and most have specific programs for groups that may require more enhanced coverage for financial assistance or high drug costs.
Private insurance: Private drug coverage is largely provided by employers (and by some associations) through employer-sponsored group plans, although individuals who are not eligible under public drug plans can purchase coverage directly from insurance providers.
The company provides better and affordable products with competitive pricing strategies. Access to optimal products and services as well as a higher global reach. It meets up all the personal needs of the customers effectively and with utmost care. The supply process is extremely reliable and having authorized distributors gives it a competitive edge over its competitors, as well as greater customer satisfaction is earned in the long run.