A report from the Montreal Economic Institute argues against a lower maximum price for pharmaceuticals. The think tank points out that if Health Canada follows through and reduces the price of drugs, it could run the risk of reducing access to medications. MEI explains that countries that impose drug price controls typically have longer wait times for new drugs to launch. For example, the time between government approval of new drugs and when they go to market is 400 days in New Zealand, versus 90 days in Canada. MEI concludes that any effort to bring a pricing regime similar to that in New Zealand could negatively impact access to treatments in this country.
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