Ottawa, December 29, 2020 – Innovative Medicines Canada (IMC) issued the following statement today regarding the looming implementation of the Patented Medicines Prices Review Board’s (PMPRB’s) Final Regulations and Guidelines, on January 1, 2021.
“While COVID-19 vaccines from several innovative pharmaceutical companies have provided Canadians a glimmer of hope, the pandemic is far from over. Throughout, we have seen just how important the life sciences sector is to Canadians’ health and well-being. Unfortunately, if the federal government proceeds with the implementation, on January 1, 2021, of the amended PMPRB Regulations and Guidelines Canadians’ access to potentially life-saving new medicines and vaccines will be limited.
“In fact, we are already seeing the negative impact of the changes, even before they come into force. New drugs are not being launched in Canada, clinical trials have declined, and investments in our vital life sciences sector are being scaled back. While January 1 is just days away, there is still time for the federal government to act.
“At a minimum, the federal government must delay the implementation of PMPRB’s final regulations and guidelines until after the pandemic has passed, which will allow all of us to focus on the real priority, which is fighting COVID-19. In addition, a delay will provide the time necessary for industry, patients and governments at all levels to work together and consider a better path forward.
“To that end, industry has proposed an alternate path to the federal government; one that would allow it to achieve its public policy objectives, without undermining patient access to potentially life-saving medicines, clinical trials in Canada, or investment in the country’s life sciences sector.”
Learn more about Innovative Medicines Canada’s Alternate Proposal.
About Innovative Medicines Canada
Innovative Medicines Canada is the national voice of Canada’s innovative pharmaceutical industry. We advocate for policies that enable the discovery, development and commercialization of innovative medicines and vaccines that improve the lives of all Canadians. We support our members’ commitment to being valued partners in the Canadian healthcare system.
