October 18, 2023
A bulletin written by Torys’ Food and Drug and Life Sciences teams has been used by Pink Sheet in its article regarding the PMPRB adoption of an amended interim pricing guidance.
The PMPRB announced a proposed interim guidance for the prices of new patented medicines, benchmarking prices to a median international price (MIP) of 11 comparator countries.
The article unpacks the development and says “[d]rug companies are concerned about a median international price (MIP) test in the guidance and the fact that the document does not address changes in the Consumer Price Index (CPI).”
The Pink Sheet references the Torys bulletin “Interim pricing guidance adopted as Canada’s PMPRB continues to move towards new guidelines”. An excerpt from the Pink Sheet article is below.
According to law firm Torys, the interim guidance does not have "the force of law." It is intended to "clarify the PMPRB's views on when the pricing of patented medicines is likely to be regarded as excessive. The PMPRB cannot make any binding decisions regarding whether the price of a particular patented medicine is excessive outside the context of a hearing."
Read the full article on the Pink Sheet’s website, and learn more about our Food and Drug work on the practice page.
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