PMPRB report reviews potential impact of new medicines on the Canadian market Français
OTTAWA, ON, /CNW/ - The Patented Medicine Prices Review Board (PMPRB) published the 9 th edition of its annual Meds Entry Watch report today. Like last year, the analysis finds that the number of new medicines launched in Canada is higher than the median for Organisation for Economic Co-operation and Development (OECD) countries. Most new medicines come to market with high treatment costs (over $10,000 per year or $5,000 per 28-day cycle for oncology), and specialty medicines such as biologic, orphan, and cancer treatments continue to make up a growing share of the new drug landscape.
The Meds Entry Watch report focuses on medicines approved by the US Food and Drug Administration (FDA), the European Medicines Agency (EMA), and/or Health Canada. This edition examines trends in the market for new medicines approved since 2018, highlighting the 48 medicines that received first-time market approval in 2022 and providing a preliminary analysis of the 63 medicines approved in 2023.
This publication informs decision makers, researchers, and patients of the evolving market dynamics of emerging therapies in Canadian and international pharmaceutical markets.
Quick Facts
From 2018 to 2023, an average of 52 new medicines were approved internationally each year. Half of these medicines received an orphan designation from the FDA or EMA.
In 2023, 63 new medicines were approved by the FDA, the EMA, and/or Health Canada.
Between 2019 and 2023, Health Canada approved 40 new medicines each year on average, of which 35% were expensive drugs for rare diseases.
In Q4-2023, 80% of total OECD sales of new medicines were for medicines that had sales in Canada
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