Quebec cuts generic drug costs

The Quebec government is slashing the price of generic medications in the province.

The move comes after the province of Ontario announced it is cutting the cost of generic drugs by 25 per cent, effective July 1, .

Quebec will automatically benefit from the move because of its agreement with pharmaceutical companies to pay the lowest prices in Canada, Health Minister Yves Bolduc said Friday.

The move will save the province's drug insurance program $164-million and will help ensure its survival, the minister said.

Quebecers currently pay about 54 per cent of the cost of the regular drug when they buy generic medications, Bolduc said.

The province is in talks with drug manufacturers, and it could take a month or two for the new prices to go into effect, he said.