Launches process to modernize the way patented drug prices are regulated
OTTAWA, May 16, 2017 /CNW/ - Prescriptiondrugs make a difference every day in the lives of many Canadians, yet Canada pays some of the highest drug prices in the developed world for patented medicines. This curbs our ability to pay for them, and other health
Today, the Honourable Jane Philpott, Minister of Health, outlined the most significant suite of changes in over two decades in a comprehensive plan to protect Canadians from excessive drug prices. As a key part of that plan, the government is proposing changes to the way patented drug prices are regulated in Canada. Through amending the Patented Medicines Regulations to change the list of countries used for price comparison, the government will be in a better position to take advantage of lower drug prices in other countries, as well to consider value for money and affordability when setting the bar on excessive pricing.
This will be the first time in more than 20 years that the government has substantially updated the Patented Medicines Regulations. To help inform the development of these regulatory improvements, Health Canada is currently seeking input from stakeholders and interested Canadians. This online consultation will run from May 16 to June 28.
The resulting regulatory proposals are expected to be developed and posted in Canada Gazette, Part I, for further feedback by stakeholders and members of the public in the coming months.
Quotes"Canadians are paying too much for prescription drugs, and the Government of Canada is committed to making drugs more affordable. Modernizing our approach to the regulation of patented drug prices is a big step in this direction, and will complement the work we are already doing with the provinces and territories through the pan-Canadian Pharmaceutical Alliance to make prescription drugs cheaper. These measures will go a long way towards helping Canadians afford the medicines they need to live healthy, productive lives."The Honourable Jane PhilpottMinister of Health
Backgrounder: Regulation of patented drug prices in Canada Backgrounder: Improving affordability, accessibility and appropriate use of prescription drugs in Canada
Consultation on Patented Medicines Regulations amendments Patented Medicines Regulations Patented Medicine Prices Review Board
SOURCE Health Canada
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