Private drug plans saw a slight uptick in costs in 2019 due to the increased use of specialty drugs and higher price points for traditional medications, according to Express Scripts Canada’s annual drug trends report. The report found private drug plan spending per claimant increased one per cent over 2018’s figures. Plans’ annual spend per claimant on […]
Taking a look at private drug plans in 2020, a number of trends are converging: spending on specialty drugs is continuing its upward trajectory, advancements in a number of lifechanging therapies are in the pipeline and policy developments are coming at both the federal and provincial levels. In the face of this potential storm, plan […]
Ontario has proposed amendments to provincial drug regulations that aim to change the pricing model for generic drugs and simplify the process for the province’s drug formulary to list biosimilars. Ontario’s Ministry of Health and Long-Term Care said the changes are aimed at reducing the “administrative burden” for drug manufacturers and pharmacies. With regards to […]
When it comes to switching from a biologic to a biosimilar drug, patient choice and engagement is extremely important, according to Durhane Wong-Rieger, president and chief executive officer of the Canadian Organization for Rare Disorders. “While a patient’s on a drug, they need to be continuously monitoring,” she said during a session at Benefits Canada’s 2019 Calgary Drug […]
The Alberta Teachers’ Retirement Fund Board will transfer all of its funds to the Alberta Investment Management Corp., according to the province’s latest budget. The ATRF board, which administers pensions for all teachers in Alberta school jurisdictions and charter schools, said in a press release it was only made aware of the change when the budget was released […]
With around 270,000 individuals currently affected by irritable bowel disease, Canada has the highest prevalence in the world, according to Mina Mawani, president and chief executive officer of Crohn’s and Colitis Canada, during a session at Benefits Canada’s 2019 Halifax Benefits Summit on Sept. 24. “And this is going to increase significantly. We’re going to be […]
Sixty per cent of all prescriptions in Canada are paid for by employer-provided drug plans and some have life-time limits for biologic reimbursement. However, transitioning to a biosimilar could extend this limit for patients, said Dr. John Esdaile, scientific director at Arthritis Research Canada, during Benefits Canada’s Halifax Benefits Summit on Sept. 24. Biologic drugs are derived through […]
A group of institutional investors representing more than US$500 billion is calling on the U.S. Congress to vote down the Canada-United States-Mexico trade agreement to prevent extended monopoly rights for pharmaceutical companies in all three countries. The Interfaith Center on Corporate Responsibility, which represents more than 300 religious institutional investors, pension funds, foundations, asset managers […]
Prescription drug costs for public drug plans covering most of Canada increased 7.4 per cent in 2017/18 to reach $11.4 billion, according to a new report by the Patented Medicine Prices Review Board. It’s a significant increase compared to the more modest 1.9 per cent growth in prescription drug costs from 2016/17. The board looked at data […]
If the Canada-United States-Mexico trade agreement goes through it could have a significant impact on the cost of private drug plans. Currently on hold until members of Parliament return to Ottawa after the summer break, the agreement as written would extend the data protection term for biologic drugs to 10 years from the current eight. If […]