Canadian pricing review board enters into four compliance agreements in 1994.
Executive Summary
CANADIAN PRICING REVIEW BOARD ACCEPTED FOUR COMPLIANCE AGREEMENTS IN 1994, bringing the total number of voluntary compliance undertakings between pharmaceutical firms and the Canadian Patented Medicine Prices Review Board to 10. The four VCUs cover eight drug products. The agreements "involved price reductions and measures to offset excess revenues of $4.3 mil. including payments of $3.6 mil. to the Government of Canada," the January 1995 PMPRB "Bulletin" states. The PMPRB was established in December 1987 to regulate the prices of patented medicines. The first VCU action was in 1993.