In the news release, Federal drug price watchdog consulting public on proposed changes to its pricing guidelines, issued 06-Oct-2022 by Patented Medicine Prices Review Board over CNW Group, we are advised by the company that the first paragraph, second sentence has been updated. The complete, corrected release follows:
Federal drug price watchdog consulting public on proposed changes to its pricing guidelines
The PMPRB's guidelines explain how its staff monitor and review patented medicine prices to ensure they are not excessive
OTTAWA, ON, Oct. 6, 2022 /CNW/ - The Patented Medicine Prices Review Board (PMPRB) released its new draft Guidelines today and launched a 60-day consultation period with stakeholders and interested members of the public. This consultation follows Health Canada's July 2022 amendments to the Patented Medicines Regulations, which provided the PMPRB with new tools to protect Canadians from excessive prices for patented medicines.
The Guidelines explain the procedures typically used by staff at the PMPRB when monitoring the prices of patented medicines. In particular, they explain the criteria staff will consider in determining whether the price of a patented medicine warrants a more in-depth review in the form of an investigation. The opening of an investigation may lead to a recommendation to the PMPRB's Chairperson to hold a public hearing into whether the price of the patented medicine is excessive under section 85 of the Patent Act.
The deadline for providing written submissions to the PMPRB is December 5, 2022.
- On July 1, 2022, Health Canada's amendments to the Patented Medicines Regulations came into force.
- Changes to the PMPRB's Guidelines are necessary to implement the regulatory amendments, and to give effect to the Board's commitment to modernize and simplify its administrative framework.
- The PMPRB ensures that prices charged by pharmaceutical companies for patented drugs sold in Canada are not excessive.
- The PMPRB also reports on pharmaceutical trends and R&D spending by pharmaceutical patentees.
- Draft Guidelines
- Patented Medicine Regulations
- Regulations Amending the Regulations Amending the Patented Medicines Regulations (Additional Factors and Information Reporting Requirements), No. 5: SOR/2022-162, Canada Gazette
Follow us on Twitter: @PMPRB_CEPMB
SOURCE Patented Medicine Prices Review Board
Contacts: PMPRB Media Relations, [email protected]
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