Canada-EU Trade deal proposals could add C$2.8 billion to Canada's drug costs; report slammed by Rx&D

According to a study from the Canadian Generic Pharmaceutical Association (CGPA), changes to Canada’s drug patent system proposed by the European Union would add nearly $3 billion annually to Canada’s prescription drug bill.

The study, The Canada-European Union Comprehensive Economic & Trade Agreement: An Economic Impact Assessment of Proposed Pharmaceutical Intellectual Property Provisions, was authored by Aidan Hollis, a professor at the Department of Economics at the University of Calgary and Paul Grootendorst from the University of Toronto’s Faculty of Pharmacy.

The study comes at a time that Canada and the EU are conducting negotiations aimed at expanding trade that could, according to the Canadian Intellectual Property Council, produce an estimated C$10.7 billion ($10.8 billion) in benefits for Canada over seven years.