On June 24, 2014, the Patented Medicine Prices Review Board (PMPRB) announced a public consultation initiative in an effort to modernize its Compendium of Policies, Guidelines and Procedures (the Guidelines). The public consultation is the first phase in a process seeking to encourage better accessibility and affordability of patented drugs.
The PMPRB is an independent quasi-judicial agency, established under the Patent Act, tasked with promoting sustainable pharmaceutical spending in Canada through its consumer protection powers. The PMPRB is mandated to intervene when a patented drug’s price is considered “excessive”. Under the current approach, a new patented drug is assigned a ceiling price based, in part, on a comparison of its therapeutic benefit relative to similar existing drugs.
The PMPRB Guidelines Modernization Discussion Paper (the Discussion Paper) examines the PMPRB regulatory framework and lists broad questions, primarily on the issue of “excessive” pricing, to consider. The PMPRB is asking stakeholders and members of the public to submit comments relating to the Discussion Paper by October 24, 2016.
Summary by: Anna Troshchynsky