Canada's drug costs are among the highest in the world and our health plans are cracking under the strain. How can we get costs under control before it's too late?

Editor’s note: In an earlier online version of this story, and in the original Report on Business Magazine version, we incorrectly cited $55,000 as the cost of a two-month supply of Sovaldi in Canada. In fact, that is the cost of a 12-week course of treatment. As well, we stated that Canada’s governments cover 42% of Canada’s $35-billion annual drug bill. We should have written that they cover 42% of Canada’s $29-billion annual prescription drug bill. Finally, we should clarify that the prices cited for Lipitor were American prices stated in U.S. dollars, and that while the pan-Canadian Pharmaceutical Alliance has no stand-alone website, it does have a section within the Council of the Federation website (www.canadaspremiers.ca). This online version has been corrected.