The federal government withdrew some of its long-promised drug pricing reforms, which would have shaved billions off industry profits, in order to ensure a vibrant pharmaceutical industry in Canada, the Health Minister said.
He added that while the government wants to cut costs for consumers, “we are mindful that we need to have in Canada a strong pharmaceutical industry, especially given the lesson that we have seen through COVID-19.”Mr. Duclos said the government’s decision was good news because it will reduce prices and also “support research, development and production capacity” of pharmaceutical companies.
Being shelved are plans to include more economic factors when setting prices and a requirement for companies to disclose net prices , rather than the publicly listed price that the government previously said does not reflect the real cost being paid. Once its established, the new drug agency is supposed to develop a national formulary and negotiate drug prices nationally. Mr. Duclos said Thursday that the agency will be more efficient and help to lower drug costs across Canada.
liberal_party: Pharma industry profits matter more than Canadian's health.
Yeah, big Pharma is hurting. Bet lots of industry lobbying on this one
another broken election promise, siding with the elite billionaires again JustinTrudeau liberal_party theJagmeetSingh good thing the pharma care plan will never come true since siding with drug company profits cafreeland
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: nationalpost - 🏆 10. / 80 Read more »