Longueuil, Quebec, november 5, 2010 – The Jean Coutu Group (PJC) Inc. (the "Company" or the "Jean Coutu Group" acknowledged the notice to the generic drug manufacturers released today by the "Conseil du médicament du Québec" in relation with the implementation of the transition measures to Canada’s best price established in the context of the recent price reduction of generic drugs in Ontario. This notice sets out transitional measures to facilitate the adaptation of manufacturers in the new environment which is summarized as follows:
- Until the date of publication of the List of drugs of April 2011, if Canada’s best price established for a generic product is equal to or less than 37.5% of the price of the branded drug in Quebec, it will be allowed that generic product prices reach 37.5% of the price of the branded drug.
- Starting from the date of publication of the list of April 2011 until the date of publication of the list of April 2012, if Canada’s best price established for a generic product is equal to or less than 30% of the price of the innovator in Quebec, it will be allowed that the generic product prices reach 30% of the price of the innovator.
- Beginning from the date of publication of the list of April 2012, generic product prices may not be higher than any selling prices granted by the insurance programs of other provinces (Canada’s best price).
For all the details of this notice, you may consult the notice released by the "Conseil du médicament du Québec" at the following address: www.cdm.gouv.qc.ca/site/accueil.phtml.
About The Jean Coutu Group The Jean Coutu Group is one of the most trusted names in Canadian pharmacy retailing. The Company operates a network of 378 franchised stores located in the provinces of Québec, New Brunswick and Ontario under the banners of PJC Jean Coutu, PJC Clinique, PJC Santé and PJC Santé Beauté, and employs more than 17,000 people. Furthermore, as of December 2007, the Jean Coutu Group owns Pro Doc Ltd ("Pro Doc"), a Québec-based subsidiary and manufacturer of generic drugs. The Company also holds a significant interest in Rite Aid Corporation ("Rite Aid") a national chain of drugstores in the United States with nearly 4,800 drugstores in 31 states and the District of Columbia.