Innovative Medicines Canada Responds to the Revised Draft PMPRB Guidelines Consultation

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.”

About Innovative Medicines Canada

Learn more about how our member companies are contributing to the fight against COVID-19.

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.

For further information:

Sarah Dion-Marquis
Director, Media and Public Relations
Telephone: 613-769-6510
E-mail: sdmarquis@imc-mnc.ca

SOURCE: Innovative Medicines Canada

View source version on accesswire.com:
https://www.accesswire.com/600228/Innovative-Medicines-Canada-Responds-to-the-Revised-Draft-PMPRB-Guidelines-Consultation

Staff

Recent Posts

Fortitude Wellbeing Enhances Mental Health Services with Comprehensive ADHD Assessments

Fortitude Wellbeing Expands Offerings with ADHD AssessmentsSouth Yarra, Australia--(Newsfile Corp. - December 24, 2024) -…

34 minutes ago

MedMira receives Health Canada approval for its Multiplo(R) Rapid (TP/HIV) Test for Syphilis and HIV

HALIFAX, NS / ACCESSWIRE / December 24, 2024 / MedMira Inc. (MedMira) (TSXV:MIR) announced today…

2 hours ago

Mexico’s EHR Revolution: Driving Digital Health Innovation and Market Growth, Insights From Black Book Research

Key Trends, Vendor Performance, and Opportunities Transforming Mexico's Healthcare IT Landscape MIAMI, FLORIDA / ACCESSWIRE…

2 hours ago

Rapid Dose Announces Proposed Issuance of Shares as Payment of Director Fees

Burlington, Ontario--(Newsfile Corp. - December 24, 2024) - Rapid Dose Therapeutics Corp. (CSE: DOSE) ("RDT" or…

5 hours ago

Trinity Biotech Announces Amended Credit Agreement with Perceptive to Enhance Liquidity and Drive Transformation Plan

DUBLIN, Dec. 24, 2024 (GLOBE NEWSWIRE) -- Trinity Biotech plc (Nasdaq: TRIB), a commercial-stage biotechnology…

5 hours ago

Carmell Announces PIPE Investment From Existing and New Investors To Support Commercial Build-out

PITTSBURGH, Dec. 24, 2024 (GLOBE NEWSWIRE) -- Carmell Corporation (Nasdaq: CTCX), a bio-aesthetics company focused…

5 hours ago