Ottawa, October 18, 2022 – Innovative Medicines Canada’s (IMC) initial interpretation of the Patented Medicine Prices Review Board’s (PMPRB) revised draft Guidelines is that they will further reduce the availability of new medicines in Canada by exacerbating an already unpredictable regulatory environment.
A strong economy begins with healthy Canadians who can actively participate in it. A recent study into the health and economic impact of access to breakthrough cancer treatments by the Conference Board of Canada found that if patients had access to new medicines in the last decade, Canadian cancer patients could have lived up to an additional 226,445 years, a $5.9 billion in potential economic value.
Presently, only 18 per cent of new medicines launched globally are available to Canadians on public plans. IMC is concerned that if the draft Guidelines are finalized without significant changes, they will further reduce access to new medicines and treatments for Canadian patients.
IMC will assess the draft Guidelines in anticipation of submitting feedback and recommendations to the PMPRB as part of the current consultation ending on December 5, 2022.
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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