Ottawa, December 21, 2020—Innovative Medicines Canada (IMC) issued the following statement today warning of the impact the Patented Medicines Prices Review Board’s (PMPRB’s) Final Regulations and Guidelines will have on Canadians’ access to new medicines and vaccines if they come into effect January 1, 2021:
“Innovative Medicines Canada remains extremely concerned with the Patented Medicine Prices Review Board’s (PMPRB’s) Final Regulations and Guidelines being implemented January 1, 2021.
“These measures aren’t yet in force and we are already seeing their impact. New, potentially life-saving medicines are not being launched in Canada, clinical trials are declining, and investments in our life sciences sector are being pulled back. If the federal government proceeds with the implementation of PMPRB’s new Regulations and Guidelines, this will only get worse.
“The depth of the worst public health crisis in our lifetime is no time for measures that will limit access to life-saving vaccines and medicines or discourage investment in the life sciences sector. In order to ensure a strong recovery from COVID-19, the federal government should, at a minimum, delay the implementation of these changes, allowing us all to focus on fighting COVID-19 and creating time to work with industry on a better path forward.
“To that end, industry has put forward an alternate plan to government that will ensure Canadians continue to have access to new vaccines and medicines, and that will generate more than $20-billion in savings and lead to concrete industry investments in manufacturing and innovation to help grow Canada’s life sciences sector.”
Learn more about Innovative Medicines Canada’s Alternate Proposal.
About Innovative Medicines Canada
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.
