CLHIA disappointed by delay of federal drug price review guidelinesRelease Date: 12/20/2022 Staff Reference: Kevin Dorse
(Toronto, December 20, 2022) On behalf of Canada’s life and health insurers, the Canadian Life and Health Insurance Association (CLHIA) is extremely disappointed by the Patented Medicine Prices Review Board’s (PMPRB) decision to once again delay the implementation of revised draft guidelines intended to lower drug prices for Canadians.
These new regulations, intended to give effect to new comparator pricing announced by the Minister in April this year and to simplify the PMPRB’s framework, were to be implemented at the start of the new year.
“Canada’s insurers strongly support the work of the PMPRB to ensure that prescription drug prices are affordable and not excessive,” Stephen Frank, CLHIA’s President and CEO said. “These efforts have become even more urgent as inflation has eroded the ability of Canadians to afford basic necessities, compounding the harm already caused by lifesaving treatments that are priced higher in Canada than in comparable OECD countries.”
Insurers observe that the draft guidelines have already been the subject of extensive, multi-year study and consultation. The PMPRB took results from two previous rounds of consultation to develop these guidelines and over 80 organizations representing health providers, drug manufacturers, academia, insurers and other groups provided thoughts on them earlier this year.
About the CLHIA
The CLHIA is a voluntary association whose member companies account for 99 per cent of Canada's life and health insurance business. These insurers provide financial security products including life insurance, annuities (including RRSPs, RRIFs and pensions) and supplementary health insurance to over 29 million Canadians. They hold over $1 trillion in assets in Canada and employ more than 166,000 Canadians.
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