The Patented Medicine Prices Review Board is fixated on price over value, and has little regard for issues of supply and investment
Let’s hope this is true. The new guidelines put forward by the PMPRB, and advanced by the government before its feet got cold, were immensely ill-conceived and harmful. According to a, pharmaceutical companies resisted the reforms. Quelle surprise! It’s long past time we created a friendly environment for life sciences investment.
To be sure, meddling in an individual pricing adjudication would be inappropriate, given the board’s quasi-judicial nature, but this is not the case here. Moreover, earlier PMPRB consultations have been widely criticized as deficient because they omitted patient groups that were at odds with the new guidelines — which also might have influenced the minister.
Compared to the United States, where almost all new drugs are available to consumers, Canada has only aboutof patented drugs registered and available. According to a recent study by the Canadian Health Policy Institute, “On average in Canada only 11% of new cancer drugs approved for marketing from 2016 to 2020 in at least one of three jurisdictions were listed on a public formulary as of December 2021. The corresponding percentage for the European Union was 73% and for the United States 90%.
Herder also made the point that the industry has not invested a loosely promised 10 per cent of revenues in R&D in Canada, according to PMPRB data, although industry has done better on R&D than PMPRB figures suggest.
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