On October 26th 2017, the Patented Medicine Prices Review Board (PMPRB) released their annual report for 2016.
In December 2015, the PMPRB published the 2015-2018 Strategic Plan, an important landmark for the organisation, looking to reform how it carries out its consumer protection mandate in light of recent significant changes in its operating environment. 2016 marked the first full year that the strategic objectives in that document were in effect at the PMPRB and their impact was made apparent on a number of fronts.
Key highlights from the report included:
- 1,435 patented drugs reported to the PMPRB, including 128 new drug products
- $15.5 billion in sales on patented drugs n Canada (an increase of 2.6% from 2015)
- Patented drug products accounted for 60.8% of the total drug sales in Canada, down from 61.6% in 2015
- Canadian prices were fourth highest among the seven PMPRB comparator countries (lower than prices in Switzerland, Germany and the US)