moved for leave to introduce Bill C-460, an act to amend the Patent Act.
Madam Speaker, it gives me great pleasure today to introduce the bill, an act to amend the Patent Act to remove the Patented Medicines (Notice of Compliance) Regulations.
This measure would significantly reduce the costs of drugs to Canadians and has to be part of any comprehensive pharmacare strategy to reel in skyrocketing drug costs.
The bill would eliminate a piece of patent legislation whose only function is to artificially prolong high profits for brand name drug companies.
By activating this process, these corporations receive automatically a 24 month injunction preventing generic drug manufacturers from producing cheaper versions of drugs whose patents would otherwise have expired.
It is time to end this unjustifiable perk given to brand name drug companies and to take this small step toward ensuring access for all Canadians to necessary prescription drugs.
(Motions deemed adopted, bill read the first time and printed)