As Canadian pharmacists, we usually focus on how things in our own country affect our work. But with Donald Trump back in the White House, changes in the U.S. could have a big impact on some pharmacies here in Canada. His administration has already started talking about changes to the U.S. healthcare system, and it’s possible we might feel the effects in Canada.
Lower Drug Prices in the U.S.
One of Trump’s big goals is to lower drug prices in the U.S. His team is cracking down on Pharmacy Benefit Managers (PBMs). These are the companies that work between drug manufacturers, pharmacies, and insurance companies to set drug prices. The U.S. government is now investigating big PBMs like CVS Caremark and Cigna to see if they’re being fair. It’s a different model in the U.S. than in Canada, but this could benefit our friends south of the border.
If drug prices in the U.S. drop, it could shake up the way Canadians and Americans buy their medications. Some Americans have been buying medications from Canada to save money. If the U.S. changes its pricing, that whole cross-border buying trend could shift and affect some Canadian pharmacies.
Will Canada Run Out of Drugs?
Another worry is drug shortages. If the U.S. decides to keep more medications for itself or limits exports as part of its new pricing plans, Canadian pharmacies could struggle to get enough supply. We’ve been here before—during Trump’s first term, there was talk of letting Americans import more Canadian drugs, which had people worried our supply would run out. Even though it didn’t happen then, similar ideas might come back.
Fewer Drug Options for Canadians?
If Trump’s plans push drug companies to focus on selling more in the U.S., Canada could see delays in getting new medications or even fewer choices overall. For Canadian pharmacies, this might mean adjusting to fewer available drugs, relying more on compounding, or dealing with frustrated patients who can’t get what they need.
A Chance to Get Creative
It’s not all bad news—there could be some opportunities, too. If Trump’s changes lead to big disruptions for PBMs in the U.S., it might inspire Canada to take a closer look at how we handle drug pricing and supply. Could a more open and fair system benefit everyone in the long run?
Also, if patients are looking for more affordable or customized options, Canadian pharmacies could expand their services. Compounding could be more in demand—areas where pharmacies like Pace Pharmacy already shine.
What About the Tariffs?
In addition to the challenges previously discussed, President Trump’s recent executive order imposing a 25% tariff on Canadian goods, effective February 1, 2025, introduces new complexities for Canadian pharmacies. These tariffs are likely to increase the cost of importing pharmaceutical ingredients and medical supplies from the U.S., potentially leading to higher operational expenses. Consequently, pharmacies may face difficult decisions regarding pricing and resource allocation, which could ultimately affect patient care. Staying informed about these developments and proactively seeking alternative supply chains or cost-saving measures will be crucial for Canadian pharmacies to navigate this evolving economic landscape.
Preparing for What’s Next
Trump’s reelection brings some uncertainty for Canadian pharmacies, but we’ve handled challenges before. The key is staying informed, being flexible, and finding new ways to support our patients. No matter what happens south of the border, we’ll keep doing what we do best—putting patients first.
At Pace Pharmacy, we’re ready to tackle whatever comes next. Whether it’s through personalized care, creative solutions, or staying ahead of the curve, we’re here to help.