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OTTAWA, ON, Feb. 16, 2024 /CNW/ - The Honourable Mark Holland, Federal Minister of Health, today tabled the 2022 Annual Report of the Patented Medicine Prices Review Board (PMPRB) with the Clerks of the Senate and the House of Commons.

The 2022 Annual Report outlines trends in the prices and sales of patented medicines in Canada. Sales of patented medicines were $18.4 billion in 2022 and accounted for approximately 49% of the sales of all medicines in Canada.

The report also sets out findings on spending on pharmaceutical research and development in Canada, as well as updated information on the PMPRB's price review and reporting activities in 2022.

The PMPRB is an independent quasi-judicial body that protects the interests of Canadian consumers by ensuring the prices of patented medicines sold in Canada are not excessive, and provides stakeholders with pharmaceutical price, cost, and utilization information to help them make timely and knowledgeable pricing, purchasing, and reimbursement decisions.

• 1,138 patented medicines for human use were reported to the PMPRB in 2022, including 69 new medicines.
• Canadian list prices for patented medicines were second highest among the 31 Organisation for Economic Co-operation and Development countries in 2022. This is up from the third highest in 2021.
• Canada represents 2.2% of worldwide pharmaceutical sales.
• The average ratio of research and development (R&D) expenditures to sales revenues for rights holders was 3.1% in 2023. The definition of R&D is outlined in the Patented Medicines Regulations.

2022 Annual Report of the Patented Medicine Prices Review Board (PMPRB)

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SOURCE Patented Medicine Prices Review Board