A pharmaceutical company that jacked up the price for a kidney disease drug must cut the cost, says Canada's drug price agency.
In a rare decision this week, the Patented Medicines Prices Review Board said the price of Horizon Pharma's Procysbi "was and is excessive."
The PMPRB told Horizon Pharma it must charge a lower, but unspecified, price. The company will take its new price to the provinces and territories, which will determine if they can afford to carry Procysbi under their drug plans. A yearly cost of about $100,000 is generally seen as the maximum the plans will cover.
"When you're getting into the hundreds of thousands of dollars per year for the drug, however the drug companies justify those, ask them to open up their books and show us the figures that mean they need to charge this much for the drug."Such decisions, which stem from public hearings, are rare for the board. Since 1993, it has reported only 10 such hearings related to allegations of excessive pricing.
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