What Canada’s IRP Changes Could Mean for the Industry

Last August, Canada’s Patented Medicine Prices Review Board (PMPRB) announced a set of amendments for its regulatory measures, in a bid to strengthen and modernize the country’s pricing framework for patented drugs. Following the initial proposal of the alterations, the PMPRB released its new draft guidelines in November 2019 and launched a 60-day consultation period with stakeholders and interested members of the public. The amendments, which empower the PMPRB to more strictly control drug prices and reorganize Canada’s reference basket countries to include markets where drug prices are lower, received serious industry backlash, with certain pharmaceutical companies warning that Canada could experience severe
launch delays, among other repercussions, if it were to adopt the proposed amendments.

In a statement, Canada’s Minister of Health, Ginette Petitpas Taylor, said that the reforms are “the biggest step to lower drug prices in a generation,” and that the changes “will lay the foundation” for universal drug coverage under Canada’s Pharmacare program.

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Pricentric Team

Pricentric One by EVERSANA is a powerful competitor intelligence tool that provides near real-time updates to drug price (list / net), reimbursement, tender and cost of treatment information at the indication level. Our team of experts track real time pricing changes across 87+ markets and 200+ therapeutic areas and develop county profiles to inform global […]