International News

C0LLETTE · 08-09-2019, 03:31 PM

Ottawa medicine board details changes to rules on national drug pricing
CARLY WEEKS HEALTH REPORTER
RACHEL EMMANUEL
PUBLISHED AUGUST 9, 2019

The ( Canadian ) federal government has unveiled its long-awaited overhaul of the country’s drug-pricing regulations with a new framework that the Liberals say will save Canadians billions over the next decade.

Under the new system, the Patented Medicine Prices Review Board (PMPRB) will no longer consider drug prices in the United States or Switzerland, which have some of the world’s highest drug prices, when trying to set the maximum prices companies are allowed to charge for prescription medications.

Drug manufacturers will also have to provide the price-setting regulator with the actual cost it charges for drugs in Canada, including any discounts or rebates. Currently, most manufacturers only disclose the list or “sticker” price, which is typically higher than what large insurance plans, such as provinces or private companies, pay.

The PMPRB will also have the authority to consider whether a drug’s price matches its value to patients.

Federal Health Minister Ginette Petitpas Taylor said the changes will allow the review board to set a proper ceiling on drug prices.

“We’ll have a better idea of how reasonable our price list is comparative to what [drug manufacturers] are selling their drugs for,” she said.

About 20 per cent of Canadians, or more than 7.5 million people, are estimated to be either uninsured or underinsured for prescription drug costs. A national pharmacare plan would address that, and aim to save billions of dollars. ...

Under the new system, Canada will compare itself to 11 other countries when it comes to setting maximum drug prices for patented drugs, including France, Germany, Italy and the new additions of Japan, Spain, Norway, Australia, Belgium and the Netherlands....

“By the announcements that we’re making today with the changes to regulations, we are absolutely going to be able to [lower drug costs],” Ms. Petitpas Taylor said.

In June, a national advisory council ...called for the establishment of a universal single-payer pharmacare program, similar to the system in place for medicare in Canada...

08-09-2019, 03:31 PM	#38
C0LLETTE Practically Lives Here How Do You Identify?: Depends on the day. Preferred Pronoun?: "I" and "we" Relationship Status: Very good. Thank you for asking. Join Date: Feb 2013 Location: Canada Posts: 11,501 My Photo Gallery Thanks: 16,676 Thanked 15,262 Times in 4,345 Posts Rep Power: 21474859	Ottawa medicine board details changes to rules on national drug pricing CARLY WEEKS HEALTH REPORTER RACHEL EMMANUEL PUBLISHED AUGUST 9, 2019 The ( Canadian ) federal government has unveiled its long-awaited overhaul of the country’s drug-pricing regulations with a new framework that the Liberals say will save Canadians billions over the next decade. Under the new system, the Patented Medicine Prices Review Board (PMPRB) will no longer consider drug prices in the United States or Switzerland, which have some of the world’s highest drug prices, when trying to set the maximum prices companies are allowed to charge for prescription medications. Drug manufacturers will also have to provide the price-setting regulator with the actual cost it charges for drugs in Canada, including any discounts or rebates. Currently, most manufacturers only disclose the list or “sticker” price, which is typically higher than what large insurance plans, such as provinces or private companies, pay. The PMPRB will also have the authority to consider whether a drug’s price matches its value to patients. Federal Health Minister Ginette Petitpas Taylor said the changes will allow the review board to set a proper ceiling on drug prices. “We’ll have a better idea of how reasonable our price list is comparative to what [drug manufacturers] are selling their drugs for,” she said. About 20 per cent of Canadians, or more than 7.5 million people, are estimated to be either uninsured or underinsured for prescription drug costs. A national pharmacare plan would address that, and aim to save billions of dollars. ... Under the new system, Canada will compare itself to 11 other countries when it comes to setting maximum drug prices for patented drugs, including France, Germany, Italy and the new additions of Japan, Spain, Norway, Australia, Belgium and the Netherlands.... “By the announcements that we’re making today with the changes to regulations, we are absolutely going to be able to [lower drug costs],” Ms. Petitpas Taylor said. In June, a national advisory council ...called for the establishment of a universal single-payer pharmacare program, similar to the system in place for medicare in Canada... __________________ ______________________________ ______________________________