Report is attracting significant
attention with its somewhat dire outlook for the Ontario economy.
The report includes a notable
about the costs of the proposed Canada - EU Trade Agreement,
particularly the increased costs arising from patent reforms being
promoted by large pharmaceutical companies:
The outcome of the negotiations for a
comprehensive free trade agreement with the European Union could have
significant impact on the cost of prescription drugs in Ontario. A key
negotiating point, the extension of Canadian patent protections for
pharmaceutical drugs to European standards, could cost Ontario
taxpayers up to $1.2 billion annually ($551 million for the Ontario
government and $672 million for the private sector), thus wiping out
gains from recent drug reforms. The province should work with the
federal government to ensure that a CETA does not undermine Ontario’s
interest in expanding the use of generic drugs.
With Ontario searching for ways to bring down its deficit, it is
increasingly apparent that including patent reforms within Canada's
trade agreement will have a damaging impact that adds billions of
dollars to provincial health care costs.
TagsShareThursday February 16, 2012