Opinion Ontarios pharmacy regulator undermines drug affordability
News Source : Financial Post
News Summary
- Ontario was right to oppose the College's opposition to them.
- Ontario passed a law requiring pharmacies to be majority-owned by pharmacists in 1954.
- The OCP imposed regulations on pharmacies to ensure that local customers’ needs would always be pharmacists’ first priority.
- The same concern led the OCP to be suspicious of franchised and banner stores because, while owned independently, they raised concerns about the independence of local-pharmacy manager/owners in regard to patient care.
Economists who study industry regulation worry about regulatory capture, an often subtle process in which the regulator becomes a protector of the interests of the companies it is supposed to be regu [+5152 chars]
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