Canadian Health Coalition

Statement on the CETA trade deal from the Canadian Health Coalition

Below is a statement from CHC National Coordinator, Michael McBane, in response to today’s C.P. report saying the Harper government is ready to cave-in to Big Pharma

“Canada currently pays 15-20% more than the international average for new brand name drugs as part of a deal negotiated by the Mulroney government in the 1980’s.

In exchange for this form of price fixing, the brand name drug industry promised to invest 10% of R%D to sales in Canada.

The industry broke this promise and now invests only 5.6% of R&D to sales – the lowest rate of R&D investment from pharma since 1988.

This is a failed industrial policy.

The higher prices for new brand names cost us at least an additional $2 billion a year.

The provisions in this trade deal would cost at least another $1 billion a year.

So we are rewarding bad behavior and broken promises with an additional $3 billion a year.

We have given pharma patent extensions – without conditions, we get nothing in return.

This money is corporate welfare negotiated by the federal government but paid out of provincial health budgets and the pockets of the sick.”

For further info:

Michael McBane, National Coordinator
Canadian Health Coalition
(613) 277-6295
Mike@Medicare.ca
Mike@Twitter