Concessions in renegotiated NAFTA will lead to ‘extra cost’ for Canadians and a potential pharmacare plan, but an expert says it could’ve been worse
By Neil MossFeb. 4, 2019
A generic drug industry association head says concessions in free trade pacts have been 'death by a thousand cuts' for the industry.
U.S President Donald J. Trump, middle, with then-Mexican President Enrique Pena Nieto, left, and Canadian Prime Minister Justin Trudeau, right, at the USMCA signing ceremony on Nov. 30, 2018, in Buenos Aires, Argentina. The renegotiated trade pact increases protection on biologics from eight to 10 years. Photo by Shealah Craighead/White House
Increased protection of innovative drugs will lead to an added cost for Canadians, but the trade concession doesn’t infringe on Canada’s ability to implement a national pharmacare plan, says an industry expert.
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On top of $301.8-billion in planned spending in the 2019-10 main estimates—combining $299.6-billion in budgetary spending and $2.2-billion in non-budgetary expenses—is another $51.2-billion in statutory expenses.
‘Imagine losing your job, getting fired, but you’re fired by basically your entire riding and your whole life has been serving these people, and there’s just a lot wrapped up in it:’ Tory House leader Candice Bergen.