The Finance Department’s analysis was created a few days before Morneau’s 2018 budget officially launched an advisory group on Canada-wide pharmacare, which the Liberals say will cut costs and improve Canadians’ access to prescription drugs. The document said more information is needed to fully understand how national pharmacare would affect drug spending in Canada — and what it would mean for revenues and business operations for the domestic pharmaceutical industry.
The president of Innovative Medicines Canada said her members, which include multinational drug companies, fully support the role of generics. Some of the firms produce generic drugs as well, Pamela Fralick said in an interview. Fralick argued that the proposed reforms need improvement. It they proceed as written, she said companies could suffer a hit to their bottom lines of between 30 and 70 per cent.
Beyond the risk of missing out on investment dollars, she said if unfriendly conditions encourage companies to look elsewhere, new drugs could be delayed years before they get to Canada.The briefing to Morneau said research and development investments by pharma companies in Canada already “significantly lag” spending in other countries in the Organization for Economic Co-operation and Development, a group of 34 countries with advanced economies.
globebusiness The Mafia would usually give small business owners 'the shakedown,' in which if the owner did not pay protection money (or 'tribute') to the Mafia Don, their store would mysteriously be firebombed by vandals (read: Mafia thugs).
globebusiness '...the great spirits proclaim that capitalism is indeed organized crime and we are all the victims.'
globebusiness Years ago they promised more R and D never materialized
globebusiness Big drug companies don't do R&D. Universities do, then big drug companies buy the R&D and patent it.
globebusiness Go ahead. If people can't afford your products (drugs) in lieu of generics then so be it. The era of forcing your costs over the heads of the ill is coming to an end.
globebusiness Hmm of course big drug companies would say that, but ask Australia about this.... Cdnpoli
globebusiness Here's an idea. All pharmaceutical companies pay a pooled insurance payment towards R&D and then no one company bears the whole cost of developing a new drug. Then, all companies are free to produce generic drugs for all. Win-win.
globebusiness Don’t be held hostage by big pharma. Most Asian country’s only use generics and healthcare is just fine and significantly cheaper
globebusiness BS