PMPRB publishes new guidelines on drug pricing in Canada
The Patented Medicine Prices Review Board published its new guidelines on Friday.
The guidelines, which will take effect on Jan. 1, 2021, aim to modernize Canada’s pricing framework for patented medicines. They explain the steps that will typically be taken by the PMPRB’s staff in assessing whether a patented medicine appears to be priced excessively in Canada. The guidelines also explain what information patent-holding pharmaceutical companies must provide to the PMPRB to enable that assessment.
Read: PMPRB publishes new draft guidelines, launches 30-day consultation
The publication is the result of a lengthy process, including a series of consultations and the work of a multi-stakeholder steering committee on modernizing the guidelines. This summer, the PMPRB published its draft guidelines and announced the six-month postponement of the new guidelines.
“The PMPRB would like to acknowledge and thank the thousands of Canadians who shared their thoughts and perspectives on the modernization of its regulatory framework over the entirety of this five-year period and, in particular, those who took the time to submit their views in writing,” said the PMPRB. “As noted, a number of important changes were made to the guidelines as a result of stakeholder feedback, the most recent of which differentiate the June 2020 draft from the final guidelines.”
Read: What will PMPRB drug pricing changes mean for plan sponsors?