Economics, business and related topics

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Pharmacies need to innovate, not complain

With drug costs representing the second biggest reason Ontario faces out of control health costs, the move by Premier Dalton McGuinty to tame these expenses seems prudent in the face of record budget deficits. However, the reaction by pharmacy owners is a malicious, spiteful attempt to use ordinary people as pawns in a political battle driven by greed. When Shoppers Drug Mart posted record profits of $585 million in the past year, during the most severe economic downturn since the Great Depression, it gets a bit hard to shed a tear for them or any other major drug retailer. The Liberal government’s plan to cut generic drug reimbursements in half to 25 per cent of their price from 50 per cent will make a huge difference to consumers and save nearly a half billion dollars for taxpayers. (more…) Continue Reading →

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