31 October 2017 - Canada's brand-name pharmaceutical companies are pushing back against a plan to overhaul Canada's drug-pricing regulator, saying they are keen to forge a compromise that would reduce prices, but not to a degree that could be "crippling" for the industry.

The president of Innovative Medicines Canada (IMC), which represents more than 45 companies, is planning to warn in a speech on Tuesday that her industry could struggle to invest in high-risk innovation, hire top talent and run local clinical trials if companies are forced to slash their prices too deeply, too quickly.

The speech will mark the pharmaceutical industry's first substantial public response to the Trudeau government's efforts to reform the Patented Medicine Prices Review Board, the quasi-judicial body that is supposed to keep a lid on Canada's prescription-drug prices – which are among the highest in the world.

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