Exclusive: Canadian regulator considers changes to new drug pricing plan

Canada's drug pricing agency is contemplating significant changes to how it will apply new regulations aimed at lowering costs, Reuters has learned, as drugmakers unhappy with the policy delay introducing new medicines in the country and blame it for job cuts.

In response, Swiss drugmaker Roche last month withdrew its immunotherapy Tecentriq from evaluation as a treatment for breast cancer, citing"significant uncertainty and complexity" around the new regulation. Merck & Co in November said it would cut 145 jobs, 30per cent of its Canadian staff, blaming the new policy.

PMPRB Executive Director Doug Clark told Reuters companies could be given an 18-month grace period to comply with parts of the regulation, and that cost-effectiveness measures may be applied to fewer treatments. The PMPRB said threats by companies to pull products when faced with price controls in Germany in 2011 led to few withdrawals.

Innovative Medicines Canada, the industry's main lobby group, said at least seven drug launches have been delayed over the new regulations since August, but declined to identify them.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China posts sharp drop in new coronavirus cases after criteria changeBEIJING — Mainland China reported on Thursday (Feb 20) the lowest number of confirmed cases of a new coronavirus since late January, partly because of a change in diagnostic criteria for patients in Hubei province, the epicentre of the outbreak.
Source: TODAYonline - 🏆 1. / 99 Read more »

Another potential Hyflux investor emerges; Utico says will consider 'soft landing'Another potential Hyflux investor emerges; Utico says will consider 'soft landing'
Source: BusinessTimes - 🏆 15. / 51 Read more »

Canadian woman braves Covid-19 outbreak in Wuhan because she refuses to abandon her catPETALING JAYA — A Canadian woman living in the virus-hit city of Wuhan has refused to evacuate because she does not want to leave her pet cat behind.
Source: TODAYonline - 🏆 1. / 99 Read more »

Easing property curbs isn’t on Singapore’s radar, Deputy PM saysThe need at this point is to stabilise the economy and address long-term structural issues, DPM Heng said. YahooFinance
Source: YahooSG - 🏆 3. / 71 Read more »

Top Glove unit prices RM1.3b perpetual sukuk at 3.95% in maiden offeringTop Glove unit prices RM1.3b perpetual sukuk at 3.95% in maiden offering
Source: BusinessTimes - 🏆 15. / 51 Read more »

COE prices closed mixed after Feb 19 bidding exerciseSINGAPORE — Certificate of Entitlement (COE) prices closed mixed at the end of the latest bidding exercise on Wednesday (Feb 19).
Source: TODAYonline - 🏆 1. / 99 Read more »