Ottawa, ON – Innovative Medicines Canada (IMC) has submitted formal feedback to the Patented Medicine Prices Review Board’s (PMPRB) revised Draft Guidelines public consultation, calling for a suspension of the planned implementation to ensure meaningful stakeholder consultation and a thorough impact analysis.
The proposed Guidelines, as currently written, will only further decrease access to new medicines, treatments, and clinical trials for Canadians and undermine the success of other government priorities like the National Strategy for Drugs for Rare Diseases and the Biomanufacturing and Life Sciences Strategy.
Timely access to new medicines saves lives, reduces healthcare costs, contributes to economic productivity, and makes Canada a more attractive destination for investment and launching new medicines. At present, only 18 per cent of new medicines launched globally are available to Canadians via public drug plans.
Suspending the PMPRB’s current proposed Guidelines will allow us – together – to chart a better path forward – one that puts patients at the centre of our healthcare systems and that encourages future investments in Canada.
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 50 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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