Insurers show support for federal government’s reforms to drug pricing regulations

Insurers are backing the federal government’s changes to drug pricing regulation, welcoming the government’s efforts to make medicines more affordable and accessible. The federal government recently announced the final amendments to the Patented Medicines Regulations, which aims to give the Patented Medicine Prices Review Board (PMPRB) the right tools to ensure that medicine prices in Canada are properly priced. Broadly speaking, the amendments do the following to help control drug prices: Change the “basket” of countries Canada is compared to when setting drug prices. This means Canada’s drug prices will be judged against countries that actually resemble Canada’s population, economy and approach to healthcare.