Thank you, Mr. Chair.
For those of us who are not too familiar with PMPRB, these conversations are always enlightening. I thank our witnesses for joining the committee today and sharing their expertise.
Even with the third-highest drug prices in the world, the drug industry is falling short of its own 1987 commitment to invest 10% of Canadian revenues back into R and D to be performed in Canada. Current industry investments in Canada are 4% and falling. Annual industry investments in Canada would need to increase by $800 million a year to meet their own commitment and by more than $3 billion to be comparable with what other countries already receive by way of R and D. The evidence suggests that pricing is not the main determinant of industry investments.
My question is to Ms. Fuller. She offered two alternatives. One was compulsory licensing and public manufacturing. To what extend would this help reduce the high cost of drugs?