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Health Canada postpones overhaul of drug pricing for six months

by newsking24

Health Canada says it is delaying its long-awaited overhaul of drug pricing laws.

It will transfer to July 1 as an alternative of this January.

While pharmaceutical producers and affected person advocates welcomed the choice, they are saying the federal authorities wants to return to the drafting board for Canada to remain aggressive within the international market for medical innovation.

A Health Canada spokesman confirmed to The Canadian Press that the rollout of regulatory adjustments has been postponed.

A spokesman says the delay is meant to present pharmaceutical firms extra time to regulate to new reporting necessities whereas coping with the challenges posed by the COVID-19 pandemic.

The postponement marks the newest setback within the years-long battle over the federal plan to recalibrate how the arm’s-length Patented Medicine Prices Review Board calculates truthful drug costs.

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