PMPRB report reviews new drugs and their potential impact on future drug spending in Canada

OTTAWA, ON, Nov. 5, 2024 /CNW/ - The latest edition of Meds Pipeline Monitor, from the Patented Medicine Prices Review Board, provides stakeholders with a list of new medicines in the late stages of clinical evaluation that may significantly impact clinical practice or drug spending in the coming years. There were over 12,000 drugs in the pipeline in 2023, increasing by an average of 19% per year since 2019.

Oncology represented one third (33%) of medicines in all phases of clinical trials. Treatments for infectious diseases and central nervous system diseases held the second and third largest share of the pipeline.

The Meds Pipeline Monitor focuses on novel medicines undergoing Phase III clinical trials or in pre-registration with the US Food and Drug Administration (FDA) in 2023. It also includes information on other drugs in Phase II that share the same mechanism of action or indication.

This edition of the report also highlights a list of potentially significant new medicines currently under review by Health Canada.

Quick Facts

• In 2023, over 12,000 new medicines were undergoing clinical trials, compared to 9,000 the year before. The number of drugs in the pipeline is increasing by an average of 19% per year since 2019.
• Cancer treatments represented one third (33%) of medicines in all phases of clinical trials. Treatments for infectious diseases and central nervous system diseases held the second and third largest share of the pipeline, at 13% and 12%, respectively.
• On average, 20% of medicines in Phase III clinical trials or pre-registration had an early orphan designation approved through the US FDA or the European Medicines Agency (EMA), which is roughly a 33% decrease from previous years.
• Twenty new medicines were selected for the 2023 new medicines list based on their potential to impact the Canadian healthcare system. Fourteen of the medicines listed in this year's report have forecasted global annual revenues over US $1 billion by 2029.
• Of the 51 new and retained medicines listed in the previous edition,15 received market authorization, 23 were retained on this year's list as recent evidence continues to support promising clinical benefit, and 13 were removed as their clinical trials were discontinued or they no longer meet the selection criteria.

Associated Links

• Meds Pipeline Monitor, 2023 (Patented Medicine Prices Review Board)

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SOURCE Patented Medicine Prices Review Board

Contacts: PMPRB Media Relations, [email protected]