The board does this through its role as a regulator, and through its reporting on trends, research and development in the Canadian pharmaceutical industry.

[2] The board investigates, reviews and negotiates the price of individual drugs that are still under patent and which have no generic substitutes.

Under sections 89 and 100 of the Patent Act, the board produces an annual report submitted to the minister, who tables it in the House of Commons.

The objective of the board is to preventing manufacturers of patented medicines from charging excessive prices.

[8] The Trudeau Liberal government has proceeded with subsequent regulatory changes designed to reduce the prices Canadian drug insurers pay for patented medicines.