Canadian govt sets out radical plans to lower drug prices

Largely in line with a December 2017 draft, today, Health Canada announced the final amendments to the Patented Medicines Regulations.

The most significant reforms to the regulations since their introduction in 1987, these amendments will give the Patented Medicine Prices Review Board (PMPRB) the tools to protect Canadians from excessive prices and make patented medicines more affordable, and would save Canadians C$13.2 billion ($10 billion) over 10 years.

Health Minister Ginette Pepitpas Taylor said: "Today, we take the biggest step to lower drug prices in a generation. Building on the progress we've already made towards lower drug prices, these bold reforms will both make prescription drugs more affordable and accessible for all Canadians - saving them an estimated C$13 billion in the next decade - and lay the foundation for National Pharmacare."