"Today, we take the biggest step to lower drug prices in a generation. Building on the progress we've already made towards lower drug prices, these bold reforms will both make prescription drugs more affordable and accessible for all Canadians—saving them an estimated $13 billion dollars in the next decade—and lay the foundation for National Pharmacare."
"Today, we take the biggest step to lower drug prices in a generation. Building on the progress we've already made towards lower drug prices, these bold reforms will both make prescription drugs more affordable and accessible for all Canadians—saving them an estimated $13 billion dollars in the next decade—and lay the foundation for National Pharmacare."
"The PMPRB’s own case studies indicate the amended Regulations will drop drug ceiling prices by up to 70 per cent, severely weakening the business case to launch new medicines in Canada" IMC
"The PMPRB’s own case studies indicate the amended Regulations will drop drug ceiling prices by up to 70 per cent, severely weakening the business case to launch new medicines in Canada" IMC
Canada's PMPRB to Drop United States and Switzerland from Price Referencing
Canada's PMPRB to Drop United States and Switzerland from Price Referencing
Key Insights
- Canada's government announced a final rule on August 9, 2019 that would drop United States and Switzerland from pharmaceutical price referencing
- New list of 11 countries for price referencing is: France, Germany, Italy, Japan, Spain, Norway, Australia, Belgium and the Netherlands
- The agency (PMPRB) is also likely to consider cost-effectiveness for pricing decisions
- The new regulation will be applicable from July 1, 2020
- Manufacturers will be required to disclose rebates and discounts
- New regulations are expected to save $13 Billion over 10 years
Industry Lobby Group's Perspective
- The industry lobbying group Innovative Medicines Canada is strongly opposing the new rule saying it would limit patient access and discourage investment
Sources:
http://pmprb-cepmb.gc.ca/view.asp?ccid=1466&lang=enhttps://www.reuters.com/article/us-canada-pharmaceuticals/canada-makes-drug-price-crackdown-official-over-industry-opposition-idUSKCN1UZ0XHhttps://www.theglobeandmail.com/politics/article-ottawa-medicine-board-details-changes-to-rules-on-national-drug/https://ipolitics.ca/2019/08/09/drug-pricing-regulation-changes-paving-the-way-for-pharmacare-health-minister/http://innovativemedicines.ca/innovative-medicines-canada-warns-new-pricing-regulations-will-limit-patient-access-new-medicines-discourage-investment/
