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In the US, where a system of quasi-private healthcare is in place, a formulary is a list of prescription drugs available to enrollees, and a tiered formulary provides financial incentives for patients to select lower-cost drugs. For example, under a 3-tier formulary, the first tier typically includes generic drugs with the lowest cost sharing ...
The Compendium of Pharmaceuticals and Specialties: The Canadian Drug Reference for Health Professionals, more commonly known by its abbreviation CPS, [1] is a reference book that contains drug monographs and numerous features which help healthcare professionals prescribe and use drugs safely and appropriately.
Drugs which do not appear on the formulary at all mean consumers must pay the full list price. To get drugs listed on the formulary, manufacturers are usually required to pay the PBM a manufacturer's rebate, which lowers the net price of the drug, while keeping the list price the same. [20]
Drugs subject to USP standards include both human drugs (prescription, over-the-counter, or otherwise) and animal drugs. USP-NF standards also have a role in US federal law ; a drug or drug ingredient with a name recognized in USP-NF is considered adulterated if it does not satisfy compendial standards for strength, quality, or purity.
Under an integrated national pharmaceutical policy, the central buying agency channels all imports and production of pharmaceuticals, calling for worldwide bulk tenders which are limited to the approved drugs listed in the national formulary. The public and private health sectors must obtain all their requirements from the central buying agency.
Formulary may refer to: Formulary (model document) , ancient and medieval collections of models for official writings Formulary (pharmacy) , list of prescription drugs covered by a particular drug benefit plan
Pharmaceutical policy is a branch of health policy that deals with the development, provision and use of medications within a health care system.It embraces drugs (both brand name and generic), biologics (products derived from living sources, as opposed to chemical compositions), vaccines and natural health products.
The first list was published in 1977 and included 208 medications. [8] [2] [9] The WHO updates the list every two years. [10] There are 306 medications in the 14th list in 2005, [11] 410 in the 19th list in 2015, [10] 433 in the 20th list in 2017, [12] [13] 460 in the 21st list in 2019, [14] [15] [16] and 479 in the 22nd list in 2021.