The Honourable Marjorie Michel, Federal Minister of Health, today tabled the 2024 Annual Report of the Patented Medicine Prices Review Board (PMPRB) with the Clerks of the Senate and the House of Commons.
The 2024 Annual Report reviews trends in the prices and sales of patented medicines in Canada. Sales of patented medicines in 2024 were $22.1 billion and accounted for approximately 47% of the sales of all medicines in Canada.
The report also sets out findings on spending on pharmaceutical research and development in Canada, as well as updated information on the PMPRB's price review and reporting activities in 2024.
The PMPRB is an independent quasi-judicial body that protects the interests of Canadian consumers by ensuring the prices of patented medicines sold in Canada are not excessive. The PMPRB also reports on pharmaceutical price, cost, and utilization information to support timely and knowledgeable pricing, purchasing, and reimbursement decisions.
