OTTAWA, April 12, 2017 /CNW/ - Closing arguments in the matter of the price of the patented medicine Soliris will be heard from Patented Medicine Prices Review Board staff, Alexion Pharmaceuticals Inc. (Alexion), and the intervenor, BIOTECanada, on Tuesday, April 18 and Wednesday, April 19, 2017, from 9:00 a.m. to 4:30 p.m. (EST) at the following location:
Patented Medicine Prices Review Board
Hearing Room #1
333 Laurier Avenue West, 18th floor
Ottawa, Ontario K1P 1C1
The purpose of this hearing is to determine whether, under sections 83 and 85 of the Patent Act, Alexion, the pharmaceutical company that exercises patent rights for Soliris and sells the medicine in Canada, is selling or has sold Soliris in any market in Canada at a price that, in the opinion of the Hearing Panel of the Board, is or was excessive and if so, what order, if any, should be made.
Soliris is the first and only treatment for patients with Paroxysmal Nocturnal Hemoglobinuria, a rare and life-threatening blood disorder characterized by excessive destruction of red blood cells; and Atypical Hemolytic Uremic Syndrome, a rare and life-threatening genetic disorder characterized by blood clots in small vessels.
- The Patented Medicine Prices Review Board is an independent quasi-judicial body with a regulatory mandate to protect the interests of Canadian consumers by ensuring the prices of patented medicines sold in Canada are not excessive.
- Patented Medicine Prices Review Board staff review the prices patentees charge for each individual patented drug product sold in Canadian markets on an ongoing basis.
- When Patented Medicine Prices Review Board staff find that the price of a patented drug appears not to comply with pricing guidelines, they will conduct an investigation to determine the facts. An investigation could result in: the closure of the file, where it is concluded that the price complies with pricing guidelines; a Voluntary Compliance Undertaking, whereby the patentee agrees to reduce the price and to offset excess revenues through a payment and/or additional price reductions; or a public hearing to determine whether the price is excessive.
- If the Patented Medicine Prices Review Board Hearing Panel finds, after a public hearing, that the price of a patented drug is excessive, it may order the patentee to reduce the price of the patented medicine and/or to offset any excess revenues it may have received.
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SOURCE Patented Medicine Prices Review Board
For further information: Contact : Sofie McCoy-Astell, Manager, Communications, Patented Medicine Prices Review Board, 613-288-9597, Sofie.McCoy-Astell@pmprb-cepmb.gc.ca; TTY (telecommunications device for the hearing impaired) - 613-957-4373