Yesterday, thePMPRB released its Annual Reportfor the year ending December 31, 2013. The Annual Report is an extensive document that reviews all of the PMPRB´s major activities, analyses of the prices of patented medicines and of the price trends of all drugs, and reports on the R&D expenditures as reported by patentees.
Highlights from the report include:
- Sales of patented drugs in Canada increased by 6.5% to $13.6 billion from $12.8 billion in 2012
- The share of patented drugs in Canada as a percentage of total sales rose from 59.3% in 2012 to 61.8% in 2013
- Prices of patented drugs sold by patentees, as measured by the Patented Medicines Price Index, saw an average increase of 0.5% and the Consumer Price Index rose by 0.9%.
- Canadian prices were the 3rd highest among the seven comparator countries, lower than prices in Germany and the US. In 2012 Canadian prices were 4th highest behind the US, Germany and Switzerland.
- The prices of patented drugs in the United States experienced an average increase rate of 11.2% in 2013, while the United Kingdom saw much more modest (0.7%) average price increase rate. Average prices in France, Switzerland and Sweden each declined by a rate of approximately 5%, while Italian prices decreased by 1.6%. No change was observed in Germany for 2013 compared with 2012.
For more information regarding the Annual Report, please visit the PMPRB website.