Home Page News Opinion Foreign Policy Politics Policy Legislation Lobbying Hill Life & People Hill Climbers Heard On The Hill Calendar Archives Classifieds
Hill Times Events Inside Ottawa Directory Hill Times Books Hill Times Careers The Wire Report The Lobby Monitor Parliament Now
Subscribe Free Trial Reuse & Permissions Advertising
Log In
Opinion

Just price for drugs: the eleventh hour

By Marc-André Gagnon      

For Canadians, it should be a reminder that we need to modernize our PMPRB watchdog to achieve 'just prices' and get rid of our irrational policies that serves corporate welfare to the detriment of patients.

Among all OECD countries, Canada ends up with the highest prices for patented drugs, behind the United States and Switzerland. We pay on average 25 per cent more on the price of patented drugs as compared to the median of OECD countries in the hope to attract investment in research and development (R&D), writes Marc-André Gagnon. Image courtesy of Pixabay

The concept of “Just Price” goes back to medieval scholastic economic thinking, which was dominant for 500 years. To ensure that the price is just, authorities had to determine that the merchant was not exploiting other people’s misery by charging excessive price and inducing dearth (caristia inducatur). People should make profit by serving others, not by abusing them.

More in News

‘We’re finding our way’: MP Gord Brown’s widow reflects on year that changed her whole life

Claudine Courtois is planning a May 2 reception to mark the first anniversary of his death, saying she’s touched by Hill community support.

Bring in quotas, financial incentives to get more women to run, says House committee

After studying barriers facing women in politics, the Status of Women Committee also suggests calling for a crackdown on gender-based heckling.

ISG Senators say poll shores up Red Chamber reforms, but feds running out of time to make them law

‘We are committed to making legislative changes’ to continue with Senate modernization, says the office of Government House Leader Bardish Chagger.

Defeated MPs to get access to more support services to navigate life after the Hill

‘Imagine losing your job, getting fired, but you’re fired by basically your entire riding and your whole life has been serving these people, and there’s just a lot wrapped up in it:’ Tory House leader Candice Bergen.

Senators blame bad bill, justice minister’s absence for long C-58 study

The access-to-information bill needed close scrutiny to turn it into ‘workable legislation,’ says committee chair Sen. Serge Joyal.

In face of uncertainty, Kashechewan’s frustration at feds brews, says MP Angus

News|By Beatrice Paez
Though being temporarily relocated is a recurring feature of their lives each year, residents expected this year to be different.

Senators weighing limits on Liberal tanker ban; government ‘amenable’ to changes to C-69, says Sen. Simons

Bill C-48 would ‘basically trap Alberta oil,’ says Independent Alberta Senator Paula Simons.

MPs, political insiders question ‘endgame’ of former cabinet ministers Philpott and Wilson-Raybould

News|By Abbas Rana
Jody Wilson-Raybould and Jane Philpott say they have no endgame, but some observers say they risk their reputations by continuing to find points of disagreement with Justin Trudeau, the government, and the Liberal Party.

Re-election calculus, base politics key reasons for Liberals to seek DPA for SNC-Lavalin: political analysts

News|By Abbas Rana
But the Trudeau government’s motivation to help out SNC-Lavalin is to protect jobs, not any strategy for the federal election, says Liberal MP Kevin Lamoureux.
Your group subscription includes premium access to Politics This Morning briefing.