The Caisse de dépôt et placement du Québec is selling 1.3 per cent of the issued and outstanding common shares it holds of insurance provider Intact Financial Corp. The investment organization will sell about 2.3 million shares at a price of $227.10 per share, resulting in gross proceeds of approximately $525 million. Once the transaction […]
The federal minister in charge of promoting competition says he’s concerned about a deal between Manulife Financial Corp. and Loblaw Cos. Ltd. that restricts patients from filling prescriptions for specialty drugs at other pharmacies under their insurance plans. Industry Minister François-Philippe Champagne said Wednesday the government is reviewing the arrangement, which affects around 260 medications […]
Some pharmacare policy experts are raising concerns about competition and patient access to much-needed medication after Manulife Financial Corp. announced its coverage of certain prescription drugs will only apply at Loblaw Cos. Ltd. pharmacies. The new arrangement, details of which were shared with plan holders earlier this month, affects around 260 medications under the insurance […]
The pharmaceutical arm of the Ontario Municipal Employees’ Retirement System is acquiring a stake in an anti-viral drug. According to the terms of a $200-million deal between OMERS Life Sciences and Enanta Pharmaceuticals Inc., the pension fund will receive a 54.5 per cent stake on the first US$284 million in royalties earned by the hepatitis […]
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 […]
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 […]
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. […]
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 […]
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 […]
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, […]