Huffington Post quoted Steve Morgan, a professor at UBC’s school of population and public health, for a story on the comparison between prescription drugs in Canada and the U.S.
American pharmaceutical companies can set prices however they want because there are no price regulations.
“What we do have to protect against these rapid price increases is a regulatory body, the Patented Medicine Prices Review Board (PMPRB). It regulates price increases … our prices can’t go astronomically high very quickly because there are regulatory restrictions on price growth,” he said.
