The Possible Effects of the Trans-Pacific Partnership on the Cost and Regulation of Medicine in Canada
This study examines the possible effects of the TPP on how Canada regulates medicines and how much the country spends paying for them. It finds that the TPP would require Canada to extend patent terms to compensate brand-name pharmaceutical firms for regulatory delays in approving drugs. This policy change could add $636 million annually to the price of drugs in Canada. The agreement will restrict future policy options in these areas in ways that benefit brand-name producers over consumers and the broader public interest.
According to the study, the TPP could have profound effects on the criteria that Canada uses to decide on drug safety and effectiveness, how new drugs are approved (or not) for marketing, post-market surveillance and inspection, the listing of drugs on public formularies, and how individual drugs are priced in the future.
Read more reports in our TPP series, What’s the big deal? Understanding the Trans-Pacific Partnership.
