On November 21, 2022, the Minister of Health tabled the 2021 Annual Report of the Patented Medicine Prices Review Board (PMPRB). The Report includes information on the PMBRB’s regulatory activities, pharmaceutical sales and price trends, and an analysis of the research and development expenditures. According to the Report, in 2021, sales of patented medicines in Canada decreased by 1.7% from the previous year for a total of $17.4 billion, and the national average transaction price for patented medicines increased by 0.4%, while the Consumer Price Index increased by 3.4%.
Should you have any questions, please do not hesitate to contact a member of the Life Sciences Regulatory & Compliance Group.
The preceding is intended as a timely update on Canadian intellectual property and technology law. The content is informational only and does not constitute legal or professional advice. To obtain such advice, please communicate with our offices directly.