PMPRB published its 2017 annual report this week, recalling an eventful year (complete with proposed amendments to its overarching regulations, poised to fundamentally change its future mandate & operations) and looking forward in 2018 to working constructively with stakeholders to finalize its Guidelines modernization initiative, underway since 2016.
PMPRB 2017 Annual Report Highlights:
- 1,391 patented medicines for human use reported to PMPRB including 80 new medicines
- Total sales reached $16.8B in 2017, an increase of 7.6% over 2016
- Prices decreased slightly (-0.3%) compared to 2016.
- On average, Canadian prices ranked 4th among the PMPRB seven reference countries, lower than Switzerland, Germany and the US.
- The median international price (MIP) was on average 26% higher than corresponding Canadian prices.
- The PMPRB accepted 14 voluntary compliance undertakings (VCUs) with price reductions and payments to the government totalling more than $35 million.
- Patentees’ R&D expenditures fell by 5% to $871 million.
For more details, read the complete PMPRB 2017 Annual Report here.