how does canada set it's drug prices?

we take an average of the oecd price.

so, we add up the cost of the price of insulin in all the countries in the oecd and then divide it by the number of countries in the oecd. and, i'm going to tell you what that calculation usually looks like.

1) austria   x
2) belgium    x - epsilon
.
.
.
20) turkey    x + delta
21) united states    1000x

so, we end up with something like (25x + 1000x)/26 = 39.42x.

that is, not only is it cheaper in canada, but the lack of regulation in the united states is inflating the prices in canada. by a lot. so, it would be even cheaper in canada if you'd fix your own regulatory process.

canadians are generous and wish well to our neighbours, but this is not a sustainable solution. you have to fix your own system.

https://www.cnn.com/2019/07/26/politics/bernie-sanders-canada-drugs/index.html