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.”
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