OTTAWA, ON / ACCESSWIRE / August 4, 2020 / The Patented Medicine Prices Review Board's (PMPRB) revised Guidelines will result in patients losing access to innovative new medicines, a reduction in the number of clinical trials in Canada, and reduced investment in the country's life sciences sector, according to a recent submission by Innovative Medicines Canada to the PMPRB.
"We remain deeply concerned about the impact the amended Patented Medicines Regulations will have on Canadians' access to affordable, innovative medicines, and on the country's ability to attract investment to our life-sciences sector," said IMC President Pamela Fralick. "As the COVID-19 crisis has shown, Canada's innovative medicines companies are vital to the health and well-being of all Canadians, and we need a regulatory environment that will help them to grow and thrive."
The PMPRB's ability to implement its approach to cost containment has been challenged by the recent Federal Court of Canada decision regarding the August 21, 2019 amendments to the Patented Medicines Regulations. That decision removed a key pillar of PMPRB's approach to achieving its policy objectives. Coupled with the serious concerns raised by patient groups, innovative medicines companies, life sciences groups, and others, the decision confirms the need for PMPRB to immediately suspend its current consultations and re-release a Guidelines package that is consistent with the regulatory tools within its mandate.
"Fortunately, it is not too late to find a solution that will avert the negative impacts of PMPRB's current approach," added Fralick. "Industry is prepared to come forward, as we have been over the last three years, with alternative approaches that will prevent the negative consequences of the amended regulations, while still allowing Health Canada to meet its public policy objectives. We hope that they are willing to have that discussion with us."
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Innovative Medicines Canada is the national voice of Canada's innovative pharmaceutical industry. We advocate for policies that enable the discovery, development and commercialization of innovative medicines and vaccines that improve the lives of all Canadians. We support our members' commitment to being valued partners in the Canadian healthcare system.
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SOURCE: Innovative Medicines Canada