According to the report, global supply chains have become increasingly complex, leading to threats, blockages and drug shortages. With rising labor, land, transportation and fuel expenses, as well as a complex regulatory environment, the generics sector in Canada is facing downward pricing pressure. The combination of these factors is adding to the volatility of the domestic industry.
Overcoming many challenges, Canadian generic drug companies have successfully avoided a catastrophic shortage of prescription drugs during the COVID-19 outbreak. Going forward, the association said, it is up to governments and stakeholders to strengthen the domestic pharmaceutical industry, as well as optimize how generic drugs are supplied to Canadians.
“We must learn from the dangers of our supply of drugs posed by the pandemic and ensure that a national pharmacare program improves prescription drug coverage for Canadians while protecting their supply,” Keon said.