The Federal court of Canada rejected the claim of the pharmaceutical manufacturers the government, have adopted new legislation to reduce the cost of patented medicines. As stated by the manufacturers, they can lose billions of dollars in profits for a decade, reports Reuters.
Canada first published the new rules in August 2019. Innovation should become a major reform of the pricing system for pharmaceuticals since 1987. Under the new rules, Expert advice on the approval of prices of original drugs will change the list of reference countries used for comparison of the cost of drugs. So, the list will be excluded the US and Switzerland as the country with the highest drug prices, and therefore not suitable for evaluating the economic efficiency.
Dissatisfied with the innovations were a number of the world’s largest pharmaceutical manufacturers. A joint suit against the government amounted to Pfizer Inc., AbbVie Corp, Amgen Inc, Bristol Myers Squibb Co, AstraZeneca Plc, Novartis AG and Eli Lilly.
The new rules were to take effect from 1 July, however, the period of their introduction was postponed to January 1, 2021.