Drug prices vary in developed countries
While the prices of some prescription drugs are lower in Canada than in the U.S., as a percent of gross domestic product, Canada and the United States spend about the same percentage roughly 1.5 percent of GDP. Greece, Portugal and France spend more, proportionally, on pharmaceuticals than the U.S. and Canada roughly 2 percent or more of GDP(see figure
According to figures from the Organisation for Economic Co-operation and Development:
Switzerland and Australia, by contrast, spend less than 1 percent of GDP on drugs.
And Sweden and the United Kingdom spend around 1 percent of GDP on drugs.
Source: James Frogue, A High Price For Patients: An Update On Government Health Care In Britain And Canada, Backgrounder No.1398, September 26, 2000, Heritage Foundation.
For Heritage text http://www.heritage.org/library/backgrounder/bg1398.html
For more on Cost Issues http://www.ncpa.org/pi/health/hedex11.html
Publish date: 25 October 2000
The views expressed in the article are the author’s and are not necessarily shared by the members of the Foundation.