Today, the Government of Canada announced that it will proceed with Amendments to the Patented Medicines Regulations to provide the Patented Medicine Prices Review Board (PMPRB) with new tools to protect Canadians from excessive prices for patented medicines.

This will improve access for Canadians to quality medicines while generating significant savings over the coming years. At the same time, these changes will ensure the sustainability of the healthcare system, while supporting innovation and investment in the pharmaceutical sector.

After consulting with stakeholders on a way forward in March 2022, Health Canada will be moving forward with the implementation of the new basket of comparator countries and reduced reporting requirements for those medicines at lowest risk of excessive pricing. These Amendments will come-into-force on July 1, 2022.

You can find more information here.

As we continue our work to advance on universal national pharmacare, streamline the approval of new drugs, develop a national strategy for drugs for rare diseases, and proceed with an ambitious biomanufacturing and life sciences strategy - access for all remains our priority.