A tiny, little-known government agency is ramping up regulation of Canada's...
TORONTO - A tiny, little-known government agency is ramping up regulation of Canada’s pharmaceutical industry, seeking to rein in prices for patented drugs that are among the highest in the world, according to industry sources and a Reuters analysis of government data.
New proposed regulations could enhance the PMPRB’s powers and help set a broader agenda for taming prices in Canada. The pharmaceutical industry’s main lobby group in Canada, Innovative Medicines Canada, has argued that the changes, if approved by the cabinet of Prime Minister Justin Trudeau, could delay or limit Canadians’ access to new patented medicines. Reuters reported in February that drug companies offered to give up C$8.6 billion in revenue over 10 years to head off the PMPRB reforms.
“There’s a momentum and an energy around becoming more engaged on pricing issues,” he said. “There’s many layers to this, that have sort of aligned to give them the space they need to try and be more active.”From its founding in 1987, the PMPRB was an unusual agency. With a budget of C$15.4 million and approved staff of 83, it is one of the smallest federal departments in Canada. By comparison, the National Film Board employs about 400.
But the agency could soon gain more muscle. The reform proposal, shepherded by federal regulator Health Canada, would allow PMPRB to figure in the effectiveness of drugs and what Canadian governments can afford when determining whether costs are excessive.
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