Pharmaceutical – Benefits Canada.com

How is the pandemic, policy issues impacting group benefits and pharmaceutical industries?

Jennifer Paterson — Mon, 22 Nov 2021 14:00:25 +0000

The proposed amendments to the patented medicines regulations by the Patented Medicine Prices Review Board could have a big impact on both the group insurance and pharmaceutical industry. “The CLHIA is very supportive of PMPRB adjustments that may be coming,” said Joan Weir, director of health and disability policy at the Canadian Life and Health […]

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Prescription drug costs in public plans hit $12.5BN in 2019/20: report

lbailey — Fri, 12 Nov 2021 14:00:34 +0000

Prescription drug costs for public drug plans rose to $12.5 billion in 2019/20, a 3.7 per cent rise in spending since 2017/18, driven primarily by increases in the use of higher-cost drugs, according to a report by the Patented Medicine Prices Review Board. The report, which reviewed data from the National Prescription Drug Utilization Information […]

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Critics calling for further delay of new drug pricing regulations

mdunne — Fri, 29 Oct 2021 13:00:09 +0000

Critics of a major drug price overhaul hope a fresh federal cabinet will put a temporary stop to the new regulations set to take effect in January. The Patented Medicine Prices Review Board is set to change the way it sets a price cap on medicines in Canada in an effort to lower excessively expensive drug costs. […]

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Sounding Board: Collaboration, innovation key to sustainable Canadian private health insurance sector

Jennifer Paterson — Fri, 23 Jul 2021 13:00:42 +0000

With Canada’s public and private drug market an ever-evolving landscape, what value can be gained from collaboration and innovative solutions to ensure patient access to new medicines and vaccines in the future? During Innovative Medicines Canada’s virtual policy summit in June, Declan Hamill, vice-president of policy, regulatory and legal affairs, said the organization appreciates the […]

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Health Canada delaying new drug pricing regulations another six months

lbailey — Wed, 30 Jun 2021 13:15:29 +0000

For the third time in a row, the federal government is delaying long-awaited changes to Canada’s drug pricing regime for a further six months. In an effort to give pharmaceutical companies more time to prepare for the impending changes, Health Minister Patty Hajdu announced Tuesday the regulations changing how the Patented Medicine Prices Review Board […]

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High-cost drugs remain primary cost driver for Canadian public, private drug plans: PMPRB

lbailey — Thu, 01 Apr 2021 13:00:52 +0000

High-cost drugs remain the primary cost driver for Canadian public and private drug plans, said the Patented Medicine Prices Review Board’s newly released 2019 annual report. Patty Hajdu, the federal government’s minister of health, tabled the report, which found the sales of patented drugs grew 3.5 per cent to over $17 billion in 2019. Additionally, […]

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Chronic disease, drug claims driving benefits plan costs: report

mschmit — Fri, 15 Jan 2021 11:00:18 +0000

Growth in chronic disease and increased drug claims are two of the key factors driving up the cost of private health benefit plans, according to a new report by Innovative Medicines Canada. It found that chronic diseases accounted for 68 per cent of drug plan claims costs and 79 per cent of growth. Claims costs […]

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Plan sponsors may benefit from using electronic drug prior authorization

mschmit — Fri, 15 Jan 2021 05:01:28 +0000

While prior authorization can be a great tool for plan sponsors, it comes with its own set of challenges, said Tara Liu, director of drug strategy at Canada Life, during Benefits Canada’s Face to Face Drug Plan Management Forum on Dec. 9, 2020. The pharmaceutical pipeline is focused on high-cost specialty drugs, which are being used in […]

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Employers should rethink approach to helping employees with obesity

mschmit — Fri, 15 Jan 2021 04:58:32 +0000

Employers that don’t cover obesity drugs should ask themselves why, said Noel McKay, principal consultant at Cowan Insurance Group, during Benefits Canada’s Face to Face Drug Plan Management Forum on Dec. 9, 2020. “Is the risk of driving up benefits costs the reason? If so, I don’t think you have to fear it. Maybe two […]

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Drug pricing reforms may impact Canadians’ access to medications

mschmit — Fri, 15 Jan 2021 04:57:58 +0000

Despite concerns Canadian drug prices are skyrocketing, the Patented Medicines Price Review Board, Canada’s price regulator, has ensured costs for patented drugs haven’t increased more than the Canadian Consumer Price Index in close to 30 years, said Wayne Critchley, Global Public Affairs’ senior associate of health and life sciences, during Benefits Canada’s Face to Face […]

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