Posted by Michael Wonder on 07 Feb 2019
Facing crackdown in Canada, drug makers offered billions in price cuts
6 February 2019 - Delayed rules would change countries Canada compares its prices to, dropping U.S.
Canadian pharmaceutical industry lobby groups, trying to head off a planned crackdown on prescription drug prices, offered to give up $8.6 billion ($6.6 billion US) in revenue over 10 years, freeze prices or reduce the cost of treating rare diseases, according to interviews and documents seen by Reuters.
Those industry offers did not impress federal officials last year, as Canada prepared to expand the powers of a little-known federal watchdog called the Patented Medicine Prices Review Board (PMPRB) to reduce the cost of prescription drugs.
