The federal government's new regulations for setting the maximum allowable price of patented medicines in Canada, which have just been approved to come into effect next year, pose a serious threat to the future of life sciences across Canada.
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Regional life sciences organizations across Canada are gravely concerned that the new regulations will make Canada unattractive for research investments in the life sciences, resulting in a loss of jobs and economic activity but also of progress in medical research and access to new therapies by Canadian patients.
There is broad support for efforts to address affordability challenges, but not at the expense of the life science research that makes new medicines possible and timely patient access to these medicines.
The reality is that many new medicines will not be available to Canadians because it will no longer be worthwhile for companies to launch them here.
The complex and untried new regulations directly contradict the government's stated goals of building a knowledge-based economy and of improving patient access to medicines in Canada.
"The government simply has not listened to the very serious concerns of the life sciences research community and industry, not to mention patient groups and Canada's largest provinces, about the flawed nature of the new regulations and the serious negative impact they will have," said Dr. Jason Field, President and CEO of Life Sciences Ontario.
Mel Wong, President of BioAlberta, noted, "The regulations will be devastating for Canada's knowledge-based economy and have negative consequences for all Canadians who depend on timely access to new therapies."
"All these organizations work closely with the pharmaceutical industry and in many cases depend on the research investments of the pharmaceutical industry, especially to support high value Canadian jobs," he said.
Lower mandated prices in Canada will only exacerbate the potential for mass diversion of Canadian prescription drugs to the United States, which has recently approved such importations.
Drug shortages for Canadians is already a growing problem here, and the proposed changes can only make them worse.
Canada's life sciences clusters are among the largest in North America and are key economic drivers, accounting for hundreds of thousands of high-quality jobs.
Industry members continue to call for the PMPRB reforms to be suspended in order to support a real process of consultation and dialogue with stakeholders. ■