To help measure the impacts of the federal government’s new price controls for patented medicines in Canada, Life Sciences Ontario commissioned Research Etc., an established Toronto research firm, to conduct an anonymous survey of pharmaceutical and other life sciences leaders.
The survey, which drew on data from 46 respondents including leaders from 36 Canadian and global pharmaceutical companies, revealed unanimity on the negative impacts of the changes to the Patented Medicine Prices Review Board (PMPRB). These negative impacts include:
- Delayed new medicine launches in Canada, particularly new cancer medicines, biologic medicines, and medicines for rare disorders
- Job losses across the life sciences sector
- Fewer investments in clinical research, patient support programs, and compassionate access programs – all vital means by which patients have better and early access to new treatments
Some companies are already making these decisions in advance of the implementation date of the new changes of July 1, 2020.
To review the full results of the survey, please CLICK HERE.