New federal price controls for medicine delaying product launches

According to a recent survey, new federal price controls for patented medicines in Canada have resulted in delayed product launches and losses of pharmaceutical jobs.

According to the study, conducted by Life Sciences Ontario, found that respondents unanimously believe the new price controls will have a negative impact.

Respondents included 36 pharmaceutical companies from both Canadian companies as well as Canadian affiliates of global pharmaceutical companies.

Additionally, according to the findings, the areas most impacted by these new controls are product launches and supply of products to the Canadian market, and employment.

Further, the report found three important means by which Canadian patients get early or better access to new medicines, including clinical research, patient support programs, and compassionate access programs will be negatively impacted by these new controls.

“This survey refutes the federal government’s position that there will be no negative consequences for Canadians from its new drug pricing policy,” Jason Field, president and CEO of Life Sciences Ontario, said in a news release.

“LSO strongly supports efforts to ensure affordable drug prices for Canadians, but not at the expense of a completive life science environment that supports clinical research and makes new, innovative medicines available to Canadians. The complex new rules and uncertainty of how they will be applied directly contradict the government’s stated goal of building a competitive knowledge-based economy in Canada,” he continued.