PMPRBPatented Medicine Prices Review Board
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Amending the list of comparator countries used by the PMPRB by removing U.
The amendments would require reporting on all price reductions, so that the PMPRB can take all reductions into consideration when setting price ceilings and monitoring compliance.
The PMPRB relies on voluntary compliance by the pharmaceutical manufacturers to follow the approved prices and has quasi-judicial powers to impose fines, as well as to order lower prices to offset excessive revenues that have been collected by the offending companies.
8) Of the 78 newly patented drugs evaluated by the PMPRB, only five were categorized as a product which provides a breakthrough or substantial improvement over alternative treatment options.
On the basis of these authorities, the Court concluded that the pith and substance of the impugned amendments and the PMPRB was patents, not industry-specific pricing practices.
Furthermore, the PMPRB (2003) reported that Canadian drug prices were 23% above median foreign prices in 1997, but have declined to 5% to 10% below the median foreign price in recent years.
Update the list of countries used by the PMPRB for drug price comparison to include nations with similar consumer protection measures, economic standing and pharmaceutical markets as Canada.
The 2016 Annual Report sets out detailed information on the PMPRBs regulatory activities; patentees compliance with the Boards pricing guidelines; sales and price trends of patented drugs in Canada, including international price comparisons, trends in all drug expenditures, and spending on pharmaceutical research and development.
The PMPRB is apparently intended to curb "excessive" pricing only, and such pricing is found in a small number of drugs each year.
Patented drug prices are controlled by the government via the PMPRB, and tend to be considerably lower than in the USA.
A Patented Medicine Prices Review Board (PMPRB) Hearing Panel issued an Order on October 28, 2016 requiring that Baxalta Canada Corporation (Baxalta) provide the PMPRB with the pricing and sales information required by section 80 of the Patent Act and sections 3 and 4 of the Patented Medicines Regulations.
testimony before the Committee as Chair of the PMPRB, acknowledged that