Existential Crisis in Canada Could Lead To More Pricing Pressure
Worried about its relevance to payers, Canada's drug price regulator is consulting on how it should modernize its guidelines. The result could be more pressure on regulated prices.
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Companies operating in Canada could face pharmacoeconomic evaluations to decide if drugs are over-priced as well as a requirement to disclose information that could impair the confidentiality of pricing agreements.
Canadian authorities are consulting on potential new measures for curbing high drug prices. One of these would extend the list of countries it uses for international price comparisons.
If your company wants to sell its products on Canada's publicly funded drug plans, then it will likely have to do business with the pan-Canadian Pharmaceutical Alliance. This is the body that negotiates drug prices for provincial and territorial drug plans and which has ensured that product listing agreements have become a prerequisite for securing drug funding across the Canadian market. The pCPA's Brad Alyward, from Nova Scotia's Department for Health and Wellness, and Sherry O'Quinn*, from the Ontario Public Drug Programs Division, spoke to Scrip about the perils of trying to charge too high a price and the future of evidence generation-based agreements.