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Canada to delay drug price reforms by six months, industry group says

By Reuters Staff Slideshow ( 2 images ) TORONTO (Reuters) - Canada has delayed the implementation of new drug price rules that had been due to go into effect on Friday by six months, the pharmaceutical industry’s main lobby group said on Wednesday. The pharmaceutical industry has fought the new regime, meant to reduce patented drug prices that are among the highest in the world, for years. “The middle of a global pandemic is not the time to implement measures that will distract from the fight against COVID-19,” said Innovative Medicines Canada (IMC), which represents major drugmakers in Canada. “This delay provides the time and the opportunity for government to work closely with industry, patients and other health system stakeholders on a better path forward.”

Delaying Implementation of PMPRB s Regulations an Opportunity to Protect Patient Access to Medicines and Vaccines Says Innovative Medicines Canada

Delaying Implementation of PMPRB s Regulations an Opportunity to Protect Patient Access to Medicines and Vaccines Says Innovative Medicines Canada
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Innovative Medicines Canada / Médicaments novateurs Canada: IMC Says There is Still Time for Federal Government to Put Canadian Patients First by Delaying January 1, 2021 Implementation of PMPRB s Regulations and Guidelines

(1) OTTAWA, ON / ACCESSWIRE / December 29, 2020 / Innovative Medicines Canada (IMC) issued the following statement today regarding the looming implementation of the Patented Medicines Prices Review Board s (PMPRB s) Final Regulations and Guidelines on January 1, 2021. While COVID-19 vaccines from several innovative pharmaceutical companies have provided Canadians a glimmer of hope, the pandemic is far from over. Throughout, we have seen just how important the life sciences sector is to Canadians health and well-being. Unfortunately, if the federal government proceeds with the implementation, on January 01, 2021, of the amended PMPRB Regulations and Guidelines, Canadians access to potentially life-saving new medicines and vaccines will be limited. In fact, we are already seeing the negative impact of the changes, even before they come into force. New drugs are not being launched in Canada, clinical trials have declined, and investments in our vital life sciences sector are bein

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