SUBSCRIBEGetting prescription drugs abroad can be much cheaper
There are four main reasons why a prescription drug is cheaper in one country than the other:
- + government regulation of drug companies ensure that there is a limit on how these companies price their products
- + patent laws are more lenient and for brand drugs, making it exclusively can vary from 6-7 years to as much as 10 years before generic version are allowed to be manufactured
- + exchange rate fluctuations can be a factor wherein the currency of a country is weaker than the other
- + taxes can make these products more expensive
Take for example the United States and Canada. While both are just neighbors, prices of drugs in a canadian pharmacy can be as much as 80% cheaper in the other country. Now, that’s a big big difference considering the costs of healthcare in the former. The reason? Just look at the four items listed above and you will wonder why lawmakers are not making a move to make these more affordable. With the United State’s lobby groups, it remains to be seen when they can act on this major problem.
When it comes to generic drugs, it is not much different with its branded counterpart. The only difference might be the physical appearance like color and shape but the content is still the same as well as the efficacy. Now, it pays to know where you can get your prescription drugs through legal channels.
