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Canadian pharmacy company (a large retail/chain drug store) as well as a Canadian pharmaceutical company, both are benefiting from the current situation in the USA. They are gradually gaining inroads in the international drug market. A Canadian pharmacy company may procure supplies from multiple pharmaceutical companies in Canada and retail drugs at its counters and even online. As it is, prescription drugs in Canada costs less, than in many developed nations, including the US. Canada is a welfare state and it ensures that its citizens can have access to essential medication at reasonable prices.
- The Patented Medicines Prices Review Board, the government agency that regulates medication prices in Canada makes sure that the prices of prescription drugs stays below a certain limit.
- The health policies of Canada also facilitate a quicker release of generic drugs in its market. Generic drugs are cheaper alternatives of name-brand prescription drugs, which cost more.
- Even providers of health insurance in Canada negotiate with pharmaceutical companies to lower the prices of patented name–brand drugs, which are covered under their policy.
This scene of the drug industry in Canada attracts many foreign customers. To take full advantage of this situation,
Canadian Pharmacy companies have started selling drugs online to domestic as well as international customers. Enormous online sales have brought large profits to these online drug stores. The demand and supply chain thus created also boosted the sales of Canadian pharmaceutical companies, particularly those that manufacture generic prescription drugs.