Three-year extension keeps PEI's public formulary expanded after millions in savings for Islanders
The federal government intends to invest more than $32m over three years in Prince Edward Island's Improving Affordable Access to Prescription Drugs Program (IAAPD), a provincial public drug coverage initiative.
Heath MacDonald, Minister of Agriculture and Agri-Food and Member of Parliament for Malpeque, made the announcement on behalf of Marjorie Michel, Canada's Minister of Health, alongside PEI Premier Rob Lantz and Cory Deagle, PEI's Minister of Health and Wellness.
Michel said in the announcement that federal funding will help PEI maintain its public drug coverage and lower prescription drug costs for Islanders.
PEI received $35m under the IAAPD between the 2021-22 and 2025-26 fiscal years.
That funding went toward expanding the province's public formulary, the list of publicly covered drugs, to broaden treatment options, to better align PEI coverage with public drug plans in other provinces and territories, to lower out-of-pocket costs for residents, and to gather insights and lessons learned.
As of March 2025, the announcement states, the program had saved Islanders $13.8m.
Extending the IAAPD will allow PEI to maintain the improvements it has made to its public drug coverage system.
The renewed agreement aims to lower prescription medication costs and widen access for Islanders, Lantz said in the announcement.
Lantz said the partnership also supports the health-care system and leaves Islanders with more money.
Deagle, also quoted in the announcement, said the renewal means "lower drug costs, access to more medications and fewer barriers to getting the treatment they need" for Islanders.
Program details are set out on the province's Prescription Care page for the IAAPD program.
