Posted by Michael Wonder on 21 May 2020
Canada grapples with drug price escalation
20 May 2020 - In July 2020 Canada will implement a series of reforms to help bring runaway drug prices under control.
On July 1, 2020, Canada will tighten up its regulations for the pricing of patented drugs with a series of changes that, among other things, drop 2 countries with among the highest drug prices, the United States and Switzerland, from the list of those whose drug prices can be used as comparators.
Canada will also allow the country’s Patented Medicines Prices Review Board to incorporate 3 new considerations into drug pricing decisions: pharmacoeconomic value, market size, and gross domestic product (GDP) in Canada. These will allow the country to weigh the price of a medicine in relation to how it affects the health care system and its value to patients, proponents say.
