Ottawa, July 6, 2022 – Innovative Medicines Canada (IMC), the association representing Canada’s research-based pharmaceutical sector, acknowledges the amendments to the Patented Medicines Regulations published today in the Canada Gazette, Part II, which introduce a new basket of comparator countries to the Patented Medicine Prices Review Board (PMPRB).
IMC is encouraged by the Government of Canada’s decision not to proceed with proposed amendments related to the new economic factors and the new price calculation. Moving forward, it is essential that the federal government ensure that the PMPRB’s Guidelines reflect its role with respect to the regulation of patent abuse and excessive pricing.
“We look forward to ongoing work with Health Canada and the PMPRB to ensure the Guidelines reflect the Board’s mandate and balance the value, cost, and timely access to innovative medicines for Canadians,” said Pamela Fralick, President of Innovative Medicines Canada.
The research-based pharmaceutical industry remains committed to working with the federal government and other stakeholders to develop implementation guidelines that will improve access to lifesaving and life-enhancing medicines for Canadians while supporting innovation and investment in the pharmaceutical sector.
About Innovative Medicines Canada
Innovative Medicines Canada is the national association representing the voice of Canada’s innovative pharmaceutical industry. The association advocates for policies that enable the discovery, development, and delivery of innovative medicines and vaccines to improve the lives of all Canadians and supports the members’ commitment to being a valued partner in the Canadian healthcare system. The association represents 48 companies who invest nearly $1.4 billion in R&D annually, fueling Canada’s knowledge-based economy, while contributing $8 billion to Canada’s economy. Guided by the Code of Ethical Practices, all members work with governments, private payers, healthcare professionals, and stakeholders in a highly ethical manner.
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