As populations and the cost of drugs continue to grow, the Government of Canada and Prince Edward Island (PEI) are working together to make it easier for Islanders to access the prescription medications they need, while helping to reduce the cost of living.
Today, the Honourable Heath MacDonald, Minister of Agriculture and Agri-Food, on behalf of the Honourable Marjorie Michel, Canada's Minister of Health, the Honourable Premier of PEI, Rob Lantz, and the Honourable Cory Deagle, Minister of Health and Wellness for PEI, announced the government intention to invest over $32 million over three years to support the Improving Affordable Access to Prescription Drugs Program (IAAPD) in PEI.
The IAAPD program, launched in 2021, has funded targeted reforms to PEI's public drug programs. PEI received $35 million (2021-22 to 2025-26) to expand its public formulary (list of publicly covered drugs) to broaden treatment options for Islanders and better align with public drug plans in other provinces and territories, lower out-of-pocket costs for residents, and gather insights and lessons learned. As of March 2025, the IAAPD has saved Islanders $13.8 million.
Extending the IAAPD will allow PEI to maintain the improvements it has made to its public drug coverage system and help reduce the cost of living for its residents.
