TORONTO - The Canadian government on Friday announced final regulations to reduce patented drug prices it said would save Canadians C$13.2 billion over a decade, overriding heavy opposition from pharmaceutical companies.
The Canadian Life and Health Insurance Association called the regulations “a crucial step to lower prescription drug costs for all Canadians.” The province of British Columbia also applauded the move, saying in a release: “People in B.C. and across Canada are now better protected against excessive drug prices set by manufacturers.”
Petitpas Taylor said the new rules would lay the foundation for a new national pharmaceutical care program. Prime Minister Justin Trudeau’s government is expected to announce a program to cover the cost of prescription drugs for some or all Canadians, but the program’s scope is not yet clear. Initially expected to go into effect in January, the regulations were delayed so the government could review feedback. They will now go into force on July 1, 2020.
Drugmakers base their list prices on the agency’s published guidelines. When there is disagreement, PMPRB staff can challenge drugmakers at an internal tribunal. Most cases are settled, but appeals go to federal court and beyond.
Oh no! Now all of those drug companies are going to go broke. That's okay, they can always exploit those Pharma-loving Americans to the South, they'll NEVER regulate prices. I mean who wants to be generic? Everyone knows that the name brand drugs work better!
This what you get when an industry doesn't react quickly enough to the public's anxiety about their prices...
Americans are welcome to purchase the drugs.... that's made in America😆. What went wrong😬
And since we here in the US don’t regulate prices at all, pharmaceutical companies will make it up here.
They should come to the US and do that here
If only the USA could even get HALF of what they're doing there.
Oh the po po!
A Trump effect.
SenSanders This one’s for you Sir
Yeah and in the US drug prices are killing people everyday and the rich owners and investors drive their 100,000 cars and vacation in Bali smiling from the blood money.
pharmaceuticals should not be an industry, time has proven again and again that corporate profit is valued higher than human lives in capitalism
Oh Canada, you are looking better and better by the day.