Federal government’s proposed drug changes mean potentially lower prices but reduced access and innovation - CanadianInvestor CanadiansInvest
Patented Medicines RegulationsThe amendments notably change the group of countries used for comparison to determine drug prices in Canada. Specifically, Switzerland and the United States have been removed in favour of a set of countries that generally have lower prices, but also access to fewer new and innovative drugs.
Crucially, COVID-19 vaccines were effectively exempt from regular PMPRB pricing oversight, suggesting that the federal government is aware of the discouraging effect such restrictions have on innovation in the pharmaceutical industry.
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