CMHR BLOG: Medication Inflation

Monthly Newsletter - October

July 2023

Mental Health Medication Inflation : By Kyle St James

Sometimes we need help from prescription medication. Whether it is medication for your
stomach, or medication for your mental health, Prescription drugs are there when needed.
However prescription drug prices have increased substantially over the past 10 years.
Well, don’t people have drug plans or alternative sources to seek help? No, most people
these days do not have the resources to carry out a drug plan, and Affiliate drug companies may only have special offers in their native countries. Some medications can have people paying $500 out of pocket for a set of 30 pills. This increase in prescription medication costs contributes to the sudden death of about 1000 Middle aged Canadians each year for ischemic heart disease and diabetes.

“About 7.5 million citizens—one in five Canadians—either did not have prescription drug insurance or had inadequate insurance to cover their medication needs. One in four Canadian households were having difficulty finding money to buy their medicines. One million Canadians cut spending on food heat to afford them”

Why are drug prices so high?

One of the biggest culprits is Research and Development costs. One would think that a medications pricing would be based on the money funded into its Research and development? Well, it seems that may not be accurate as drug companies set prices based on what the market can bear.

“Our findings provide evidence that drug companies do not set prices based on how much they spent on R&D or how good a drug is. Instead, they charge what the market will bear,” said senior author Inmaculada Hernandez, Pharm.D., Ph.D., associate professor at Skaggs School of Pharmacy and Pharmaceutical Sciences.

https://www.canada.ca/content/dam/hc-sc/images/corporate/about-health-canada/public-engagement/external-advisory-bodies/implementation-national-pharmacare/final-report/final-report.pdf

When you think of a company it makes sense this would be standard practice. Too see how much stress they can put on the market means there's a chance more money can be made. Now if this was being properly funneled into R&D, most would expect a higher quality of prescription medication. Unfortunately, as we understand funding isn't based on how good a medication. It is based on the ability to pay and where you live. Although there are avenues to acquire these drugs the expense is rarely affordable to the average consumer.

“2017 review by the Patented Medicine Prices Review Board found that for the majority

of drug classes, the public drug programs all provided access to equivalent (though not

identical) drugs.14 But differences in who is covered, how drugs are funded, the amount

of out of pocket costs and the rules to be followed are all contrary to the idea that all

Canadians should have equal access to health care—based on need, not their ability to pay

or where they live.”

https://www.universityofcalifornia.edu/news/why-are-prescription-drugs-so-expensive-its-not-necessarily-high-rd-new-study-shows

What Resources are Available?

Now there are a few resources open to the public that can make the processes easier. The issue is…you have to be somewhat lucky. For example certain drug companies can lower drug expenses through programs. However most of those programs are on applicable to those in their home country. So the first place I'd suggest looking is the manufacturer of your medication. Most have websites that, if you're lucky, will offer you a deal. Second would be to look into any disability support programs your government offers. In Canada ODSP and Ontario Workers can cover certain medications based on certain criteria. If you’re having trouble with that, it is possible to ask your family physician for samples if they carry any. Thirdly you could see if your employer's company offers benefits for their workers. These benefits can help lessen the expense of a wide variety of medications. And finally The Trillium drug plan in Canada can also reduce the cost of medication that people are paying out of pocket for.

- “The Trillium drug plan helps Ontario residents to cover the cost of about 5,000 prescription drugs. In addition, there are about 1,000 products under the Exceptional Access Program.”

I hope these resources help, and if you are curious to look more in-depth on the soaring cost of medication the please click here –> A Prescription for Canada

https://www.olympiabenefits.com/blog/everything-you-need-to-know-about-the-trillium-drug-program#:~:text=The%20Trillium%20drug%20plan%20helps,under%20the%20Exceptional%20Access%20Program. - Trillium

https://www.universityofcalifornia.edu/news/why-are-prescription-drugs-so-expensive-its-not-necessarily-high-rd-new-study-shows

https://canadianlabour.ca/too-many-people-are-struggling-to-pay-for-their-medications/