(CTV News – The Canadian Press)
Changes to Canada’s drug patent system proposed by the European Union would add about $2.8 billion a year in costs to the country’s prescription drug bill, a new study concludes. The study released Monday was commissioned by the Canadian Generic Pharmaceutical Association, which represents Canada’s generic pharmaceutical industry.
The EU has tabled proposals as part of a Canada-EU trade deal being negotiated that would lengthen the period of market exclusivity for brand-name drugs in Canada, a release on the study said. That deal would result in the most extensive structural protection for innovative drugs of any country in the world, the study found, but would not lead to a substantial increase in investment by brand-name drug companies in Canada. Read more here.
Date: February 8, 2011