The Economic Case for Universal Pharmacare: Costs and benefits of publicly funded drug coverage for all Canadians

Authors: 
Marc-André Gagnon, Guillaume Hébert
Research Summary: 

The main argument that is typically made against the establishment of universal Pharmacare is economic in nature. This report shows that the economic argument in favour of such a program is loud and clear, regardless of which industrial policy is subsequently considered. Canadians could save between 10% and 42%—up to $10.7 billion—of total drug expenditures.

A universal drug plan providing first-dollar coverage, established alongside a rigorous drug assessment process, would not only ensure greater fairness in accessing medication and improve drug safety, but would also help contain the inflationary costs of drugs, regardless of the industrial policy Canada may choose.