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Health Minister launches high drug cost consultations

  • May 16, 2017

Prescription medication

Health Minister Jane Philpott wants to enhance a ability of a sovereign house to strengthen consumers from high drug prices. (CBC)

Health Minister Jane Philpott is announcing consultations on a apartment of due regulatory changes associated to a Patented Medicine Prices Review Board.

Philpott says a house was combined 30 years ago to strengthen consumers and to safeguard companies do not use monopolies to assign extreme costs. 

She says, however, a house is singular in a ability to strengthen consumers from high drug prices, a problem a sovereign supervision wants to address.

Philpott notes, for example, that a house benchmarks Canadian prices opposite 7 other countries.

But she says countries used in a comparisons have some of a top prices in a world, including a United States, where law drugs cost twice as most as in Canada.

“This is a initial time in some-more than 20 years that these regulations have been almost updated,” Philpott said of a due changes to a Patented Medicine Prices Review Board. 

 The idea is to take advantage of revoke drug prices in other countries, as good to cruise value for income and affordability when environment a bar on extreme pricing, she said.

“If a new drug does not offer genuine health improvements, or is usually somewhat some-more effective than an existent treatment, is it satisfactory for that drug to cost dual or 3 times as much?” Philpott asked. 

Online conference run until Jun 28. 

The Patented Medicine Prices Review Board welcomed a minister’s pierce “to strengthen and update a pricing horizon to revoke a cost of medication drugs,” Dr. Mitchell Levine, a board’s vice-chair, pronounced in a statement. 

 Philpott hopes the new regulations will be in place no after than a finish of 2018. 

The sovereign supervision also aims to speed adult how fast patients can entrance new medications.

They’re mixing Health Canada’s reviews on safety, peculiarity and efficiency of new drugs at the same time drug coverage recommendations are made.

Philpott says Canadian drug spending has ballooned by 184 per cent given 2000 as a share of sum domestic product —- faster than in all a comparison countries.

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