Thank you.
My first questions are for Dr. Morgan.
In 1987, Bill C-22 amended the Patent Act to expand the patent rights of patentees of medicines. Those amendments included, among other things, an extension of the patent term from 17 years from the date of the issuing of the patent to 20 years from the date of filing of a patent application. To ensure that the prices of patented medicines are not excessive during the expanded period of market exclusivity, that bill also amended the act to create the PMPRB.
As a general statement, would you say that pharmaceutical prices in Canada are excessive?