Ottawa, April 20, 2022 – Innovative Medicines Canada (IMC), the association representing Canada’s research-based pharmaceutical sector, issued the following statement in response to the Federal Government’s recent announcement on the amendments to the Patented Medicines Regulations.
“IMC is encouraged the Government of Canada has decided not to proceed with the amendments related to the new economic factors and disclosure of third-party payments, consistent with recent court decisions,” said Pamela Fralick, President of Innovative Medicines Canada. “It remains important, however, to continue to acknowledge the critical connection between pricing, access, and better health outcomes for Canadians – the true value and objective of innovative medicines. Changing the basket of comparator countries to include a range of countries that is not reflective of the country’s economic status provides greater predictability but does little to cultivate the competitive market needed to attract global investment and to ensure access to the best medicines for Canadians.”
IMC is committed to working collaboratively with the Patented Medicine Prices Review Board and other stakeholders to develop implementation guidelines that will support innovation and investment in the pharmaceutical sector. Equally, we welcome the opportunity to work with Health Canada on the next phase of a national strategy on drugs for rare diseases to help create a value-based, pan-Canadian model that provides patients with timely access to new treatments.
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 49 companies who invest nearly $1.2 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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