The Herald, Sharon, PA Published Monday, June 10, 2002

MERCER COUNTY AREA

Exchange rate fuels mail-order drug trade

By Michael Roknick
Herald Business Editor

For the past couple months Carol Karol has been getting prescriptions for seniors from Canada but has never left the country.

A sales representative for The Canadian Pharmacy, a British Columbia pharmacy which offers mail orders, she hooks people up with the company, which says it can save American clients an average of 40 to 50 percent on medications.

"They don’t believe it,’’ Mrs. Karol said of people’s reactions. "They’re absolutely stunned.’’

There’s a simple reason why the privately-held company can offer a savings, said Verigin Tutty, president of the pharmacy.

"The American dollar is worth 35 to 40 percent more than the Canadian dollar,’’ Tutty said. "That’s where the major discount comes from. If the exchange rate were on par tomorrow we’d be out of business.’’

Americans have been bombarded with the idea that Canadian provinces buy drugs in bulk and therefore get a better deal, Tutty said. What actually happens is that prescription wholesalers buy the drugs in bulk just like their American counterparts. The only reason why there’s a discount on drugs is the exchange rate, he added.

In order to get the medications forms must be filled out and customers must have a licensed American doctor prescribe the drugs.

"We’re not a substitute for any medical advice,’’ Tutty said. "We’re just another pharmacy.’’

With 50 employees The Canadian Pharmacy got into mail order for Americans three years ago and those sales still only account for 5 percent of all the company’s business, Tutty said. So far the chief American customers are seniors on fixed incomes.

The turnaround time to place an order, fill the prescription and having it delivered to the front door of an American customer is between seven to 14 business days by regular airmail but for an extra $10 by express mail it will take about 10 days.

Clearly, this service is for those on maintenance medications.

"You’re not going to get an antibiotic from us,’’ he said. "Your going to get that from your local pharmacy.’’

For further information: The Canadian Pharmacy: (888) 621-3039