The Burrow
Sep 16, 2024
Everyone gets sick at some point and needs a prescription from their doctor for medication to fix the issue. Other people may be born with or develop an ongoing condition that requires long-term care and ongoing medicine to improve their quality of life.
Medicine is an essential part of healthcare, but sometimes it can be expensive.
Given that the cost of providing healthcare influences the cost of health insurance, we wanted to see which countries had the more expensive prices for medicine.
We gathered example prices for a range of common medicines from countries across the globe, comparing prices between 10 different nations.
The results speak volumes about the healthcare system and cost of living situation in each country, with one nation miles ahead of the others when it comes to the cost of medication.
Prices varied dramatically between countries for each medication, but one nation stood head and shoulders above the rest as the most expensive country for prescription drugs. The USA had the most expensive prices for medicines for all but two of the thirteen that were analysed.
As of the time of writing, Viagra was US$2,771.36 for a box of 30 tablets in America – thousands of dollars more expensive for the same drug than in any other country. Canada had the second-most expensive price at US$115.62, while in Australia it was as little as US$5.16 for four tablets from a ‘generic brand,’ or US$38.70 for the same amount. Prices can vary significantly between brands for the same prescription drug.
It’s important to remember that these prices are before health insurance in America would take effect. Essentially, it is the ‘recommended retail price’.
Health insurance in the USA is typically included in an employee’s pay and benefits from an employer, who will negotiate with pharmacies and drug companies to set coverage and prices for a specific set of medicines. This means that patients will pay different prices depending on what prescription they buy and which health plan they’re on, and it can be a ‘confusing web’ to navigate with patients still getting blind-sided by expensive prices.1
There are a variety of different methods governments across the world use to try and manage the cost of medication.
For example, in Australia there is the Pharmaceutical Benefits Scheme (PBS), that sets price caps for a suite of medications. This means that patients won’t pay more than the cap price for PBS listed medications. Prescriptions that are not listed on the PBS will vary in price depending on the manufacturer and retail pharmacy that sells them.
Additionally, while the PBS can cover several different brands of the same medication, some of these brands may be more expensive than others as the manufacturer adds a ‘brand premium’ that makes the total price more expensive than the PBS price.
In the UK, the National Health Service (NHS) sets the price so that patients pay the same price regardless of what type of medication it is. Prescription drugs not covered by the NHS are available through a private prescription at varying prices.
European countries like Sweden subsidise medications to help make them more affordable to purchase, but the price will vary depending on the particular drug. In Canada, there is no federal subsidy, but the different provinces each have their own publicly-funded medication plans that are subsidised through a mix of private and public health insurance. This means that patients may pay different prices for the same drug depending on what province they’re in.
The table below shows some example costs of medications in different countries. It’s important to note that these are not necessarily what patients will pay at the pharmacy counter, depending on their nation’s rules and their health insurance coverage, and that these prices are subject to vary in the future.
| Branded Drug | Australia | USA | Canada | France | UK | South Africa | Portugal | Sweden | Finland | Mexico |
| Viagra | $38.70 | $2,771.36 | $115.62 | $287.76 | $12.77 | $12.81 | $40.83 | $41.27 | $46.88 | $18.99 |
| Lyrica | $16.62 | $648.87 | $72.30 | $25.62 | $12.77 | $16.15 | $20.12 | $73.68 | $20.70 | $130.93 |
| Lipitor | $14.12 | $1,761.02 | $101.15 | $4.27 | $12.77 | $1.73 | $3.55 | $28.25 | $21.66 | $24.99 |
| Ventolin | $20.12 | $33.42 | $78.72 | $8.31 | $12.77 | $2.14 | $6.74 | $6.16 | $4.21 | $25.00 |
| Zithromax | $5.16 | $103.55 | $68.41 | $8.00 | $12.77 | $7.04 | $6.23 | $8.31 | $10.22 | $5.63 |
| Lantus | $21.17 | $77.16 | $185.95 | $41.73 | $12.77 | $6.84 | $64.10 | $51.31 | $35.89 | – |
| Prograf | $21.17 | $765.98 | $116.57 | $157.13 | $12.77 | $205.15 | $26.11 | $251.49 | $240.04 | $388.99 |
| Yasmin | $18.98 | $416.38 | $127.79 | $0.00* | $12.77 | $5.25 | $12.30 | $22.94 | $37.20 | $65.99 |
| Prozac | $21.17 | $1,503.55 | $120.97 | $2.39 | $12.77 | $2.07 | $15.17 | $11.47 | $6.33 | $198.68 |
| Xanax | $18.52 | $96.30 | $75.81 | $1.79 | – | $1.38 | $1.22 | $4.57 | $1.95 | – |
| Zestril | $17.35 | $423.00 | $81.56 | $3.46 | $12.77 | $1.73 | $15.37 | $6.47 | $4.34 | $38.99 |
| Viread | $21.17 | $1,329.44 | $151.45 | $245.63 | $12.77 | $16.02 | – | $735.93 | $292.46 | – |
While the Australian Government does subsidise the cost of some prescription medications, this doesn’t cover all medications. A private health insurance extras policy can contribute towards the cost of medications that aren’t covered by the PBS.
Compare the Market’s Executive General Manager of Health Insurance, Steven Spicer, explains.
“An extras policy can pay a benefit towards the price of eligible medications that aren’t included in the PBS here in Australia. So if your policy includes Non-PBS medications, you may be able to claim some of these costs on your health insurance,”
says Mr Spicer.
“With medications varying in price greatly, this can provide great value and relief for patients, especially those with ongoing health conditions that require regular treatment and medications over the long term.”
Prices were sourced for a number of different medications from national pharmaceutical schemes or online chemists in each country for the same dosage strength and quantity. Where these were not the same due to laws and restrictions the price was divided or multiplied to match the quantity of the Australian example. Prices were converted into USD on the 19th of July 2024 and are subject to change. Prices are intended as an example and not a definitive figure.
Some countries did not have a clear price for a specific medication and as such those cells in the table above are blank.
Price sources are listed below.
References: