Patented Medicine Price Affordability
Support the New Regulations to help
Lower the Prices of Patented Medication
The issue: Proposed changes to lower patented medicine costs
Following consultations initiated in 2016, Health Canada published proposed updates to the patented medicines pricing framework and related regulations in the Canada Gazette (Vol 151, No. 48). The proposed regulations endeavor to protect Canadians from excessive prices for patented medicines by implementing changes that include:
Expanding the list of Patented Medicine Prices Review Board (PMPRB) comparator countries from 7 to 12 so that Canada’s prices move to the median of the OECD;
Providing the PMPRB with new factors to enable it to consider the price of a Patented Medicine in relation to its value and impact on the healthcare system;
Focus the PMPRB’s compliance and oversight on those classes of drugs that represent the greatest impact on the system and/or the greatest risk for excessive pricing; and
Conduct a more regular review of the regulations to ensure they are meeting the twin goals of reducing prices for Canadians while ensuring access to needed medications.
It is essential for members of government and the Minister of Health to hear from stakeholders who support the proposed changes.
Add your voice
– Support changes that will lower prescription drug costs