The PMPRB's guidelines explain how its staff monitor and review patented medicine prices to ensure they are not excessive
OTTAWA, ON, Oct. 6, 2022 /CNW/ - The Patented Medicine Prices Review Board (PMPRB) released its new draft Guidelines today and launched a 60-day consultation period with stakeholders and interested members of the public. This consultation gives effect to Health Canada's July 2022 amendments to the Patented Medicines Regulations, which strengthen and modernize Canada's pricing framework for patented drugs, and further the Board's commitment to modernize and simplify its administrative framework.
The Guidelines explain the procedures typically used by staff at the PMPRB when monitoring the prices of patented medicines. In particular, they explain the criteria staff will consider in determining whether the price of a patented medicine warrants a more in-depth review in the form of an investigation. The opening of an investigation may lead to a recommendation to the PMPRB's Chairperson to hold a public hearing into whether the price of the patented medicine is excessive under section 85 of the Patent Act.
The deadline for providing written submissions to the PMPRB is December 5, 2022.
On July 1, 2022, Health Canada's amendments to the Patented Medicines Regulations came into force.
Changes to the PMPRB's Guidelines are necessary to implement the regulatory amendments, and to give effect to the Board's commitment to modernize and simplify its administrative framework.
The PMPRB ensures that prices charged by pharmaceutical companies for patented drugs sold in Canada are not excessive.
The PMPRB also reports on pharmaceutical trends and R&D spending by pharmaceutical patentees.
Follow us on Twitter: @PMPRB_CEPMB
SOURCE Patented Medicine Prices Review Board
View original content: http://www.newswire.ca/en/releases/archive/October2022/06/c4987.html