New regulations to amend the Patented Medicines Regulations expected to come into force on 1 January 2019 have been delayed. The amendments were anticipated to lower drug prices for patented medicines by:
- Allowing PMPRB to consider a drug price based on it pharmacoeconomic value, market value and gross domestic product (GDP) and GDP per capita
- Removing Switzerland and the United States from Canada’s international reference pricing basket, the two countries with historically higher drug reference prices
- Reducing reporting requirements for veterinary and over the counter medicines
- Reporting net prices, after all other discounts
It is not clear what the revised date for roll-out is, but MAP will keep you updated of any developments.