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As Canada gets set to implement new regulations designed to cut prescription drug spending, the pharmaceutical industry is firing back with a survey showing industry executives believe the changes will diminish their investment in the country and reduce access to medicines, among other things.

The changes, which go into effect on July 1, will alter the framework used by the Patented Medicine Prices Review Board to set prices. The agency will no longer consider prices in the U.S. and Switzerland, which have some of the world’s highest for prescription medicines, when trying to set maximum prices that drug makers may charge in Canada.

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