With a pharmacare bill on the horizon, Big Pharma’s attack on single-payer drug coverage for Canadians needs a fact check

Under a pharmacare plan, a single bargaining agent negotiates for lower prices from drug companies. (Shutterstock)

Health Minister Mark Holland announced in August that the federal government intends to introduce pharmacare legislation in the fall. Now the battle lines are being drawn.

One of the many virtues of pharmacare — a universal drug coverage plan — is that there will be a single bargaining agent looking for lower prices from the drug companies. Australia has a single buyer and has brand-name prices that are on average 29 per cent lower than Canada’s. That difference on Canadian annual sales of $17.4 billion translates into savings of about $5 billion.