OTTAWA,
ON, May 22, 2024 /CNW/ - The Patented Medicine
Prices Review Board (PMPRB) published the 8th edition of
its annual Meds Entry Watch report today. 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, 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 2017,
highlighting the 55 medicines that received first-time market
approval in 2021 and providing a preliminary analysis of the 48
medicines approved in 2022.The report also includes a section
focused on medicines that were new to Canada in 2020 with an analysis of the rate of
approvals per quarter over the past five years.
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 2017 to 2022, an average of 50 new medicines were approved
internationally each year. Half of these medicines received an
orphan designation from the FDA or EMA.
- In 2021, a five-year high of 55 new medicines were approved by
the FDA, the EMA, and/or Health Canada. In 2022, 48
medicines received first-time market approval.
- Canada approved 43 new
medicines in 2021 and 46 in 2022, above the five-year average of
40.
- New medicines with Canadian sales accounted for 81% of all new
medicine sales in the OECD in Q4-2022, indicating that Canada continues to approve and sell the
higher-selling medicines approved internationally.
Associated Links
- Meds Entry Watch, 8th Edition (Patented Medicine
Prices Review Board)
Follow us on X, formerly known as Twitter: @PMPRB_CEPMB
SOURCE Patented Medicine Prices Review Board