Ottawa, June 20, 2022: PDCI study finds Canada Ranks 10th on its Attractiveness for New Medicine Launch
Launched today by PDCI Market Access, a new study finds Canada ranks 10th out of 14 countries on its attractiveness for new medicine launch.
PDCI’s Biopharmaceutical Ecosystem Index: Where does Canada Rank on its Attractiveness for New Medicine Launch evaluated and compared Canada among 13 other countries from the perspective of global biopharmaceutical decision-makers. It scored each country’s Development and Commercialization Infrastructure, Regulatory Landscape and Access Environment based upon indicators and evidence-based measurements that make a country appealing for new medicine launches.
An independent Editorial Advisory Board, composed of biopharmaceutical experts and experts on pharmaceutical policy and patient access issues, identified, prioritized and weighted a set of indicators that global decision-makers view as important influencers on where and when new medicines are launched. Following a comprehensive literature review, each country was scored on each indicator, then weighted to produce a composite attractiveness score for each country, resulting in Canada’s overall 10th place ranking.
“What we’ve found is that Canada performs quite well by comparison on some indicators including its Regulatory Approval process and Late-Stage R&D,” says lead author Courtney Abunassar, “but we fall behind on other areas, especially Health Technology Assessment and Reimbursement which makes up more than a third of the Index’s weight. Comparatively long times to public reimbursement as well as having a complex process with many payers and formularies undermine Canada’s overall attractiveness ranking among the sample of countries.”
Canada’s 10th place ranking put it ahead of Italy, Norway, Belgium, and Spain which ranked 11th to 14th, respectively. Canada trailed the other countries in the analysis, which were (in order of overall attractiveness ranking, from first to ninth): the United States, Germany, United Kingdom, Japan, France, Australia, Sweden, Switzerland and Netherlands.
“PDCI’s Index fills an important gap in the literature, uncovering why the submission lag may exist for Canada relative to the US and Europe,” says Dani Peters, Editorial Board Member and President of Magnet Strategy Group. “In addition to recognizing where Canada is performing well, it identifies where Canadian policy-makers can focus to most effectively improve the country’s attractiveness to global biopharmaceutical decision-makers.”
The United States ranked first overall, with Germany in second place and the United Kingdom ranking third.
“Making Canada an attractive and prioritized launch destination for innovative medicines is of crucial importance for Canadian citizens so we can have access to the life-changing medicines under development today when we need them!” says Martine Elias, Editorial Board Member and Executive Director of Myeloma Canada. “This extensive research serves to make this case and why policy makers must make the right decision to keep Canada ahead of the rest of the world.”
For more details on PDCI’s Biopharmaceutical Ecosystem Index: Where does Canada rank on its Attractiveness for New Medicine Launch? Please see the full report here.
Veronique Scott, Manager, Policy Insights
PDCI Market Access, A Division of McKesson Canada
About PDCI Market Access:
Established in 1996, PDCI Market Access is Canada’s leading pricing and reimbursement consultancy. PDCI features over twenty staff, including experienced bilingual consultants and analysts. Headquartered in Ottawa, PDCI also has several consultants based in the Toronto and Montreal areas.
PDCI prides itself on being the only Canadian consultancy with core competencies and expertise in both pricing and reimbursement. We are a client focused, mid-size consultancy large enough to address any contingencies, but small enough that senior staff work directly with our clients on all projects. PDCI has significant support infrastructure, including claims and price databases, scientific resources, and market intelligence.