Exchange Rates 2023

The methodology for calculating exchange rates for purposes of the PMPRB's International Price Comparisons is described in Schedules 6 and 7 of the Compendium of Policies, Guidelines and Procedures, which came into effect on January 1, 2010 (previously under Schedule 3 of the Compendium of Guidelines, Policies and Procedures). As per the Patented Medicines Regulations, the new schedule of PMPRB11 countries applies.

Existing Medicines

The international prices of an existing medicines for the period can be converted into Canadian currency by multiplying the price in the local currency of each country, by the corresponding exchange rate from the table below. For each country, the exchange rate is the simple average of the monthly average noon spot exchange rates for the 36-month period ending in the last month of the reporting period under review. For the January to June reporting period, the exchange rate is based on June 2023, while for the July to December reporting period, the exchange rate is based on December 2023.

Average exchange rates for existing medicines
Reporting period Australia
(AUD)
Belgium
(EUR)
France
(EUR)
Germany
(EUR)
Italy
(EUR)
Japan
(JPY)
Netherlands
(EUR)
Norway
(NOK)
Spain
(EUR)
Sweden
(SEK)
United Kingdom
(GBP)
January to June 0.92571667 1.45329167 1.45329167 1.45329167 1.45329167 0.01087833 1.45329167 0.13954722 1.45329167 0.13830000 1.67484167
July to December 0.91400000 1.43771389 1.43771389 1.43771389 1.43771389 0.01033417 1.43771389 0.13648889 1.43771389 0.13416111 1.67039722

New Medicines

The international prices of a new medicines introduced during the period can be converted into Canadian currency by multiplying the price in the local currency of each country, by the corresponding exchange rate from the table below. For each country, the exchange rate is the simple average of the monthly average noon spot exchange rates for the 36-month period ending four months before the date of the first sale of the drug product as per Guidelines. For the January 2023, the exchange rate is based on August 2022, while for the July 2023, the exchange rate is based on February 2023.

Average exchange rates for new medicines
Reporting period Australia
(AUD)
Belgium
(EUR)
France
(EUR)
Germany
(EUR)
Italy
(EUR)
Japan
(JPY)
Netherlands
(EUR)
Norway
(NOK)
Spain
(EUR)
Sweden
(SEK)
United Kingdom
(GBP)
December 2023 0.92406389 1.45085000 1.45085000 1.45085000 1.45085000 0.01078750 1.45085000 0.13909167 1.45085000 0.13763611 1.67456667
November 2023 0.92571667 1.45329167 1.45329167 1.45329167 1.45329167 0.01087833 1.45329167 0.13954722 1.45329167 0.13830000 1.67484167
October 2023 0.92689722 1.45564722 1.45564722 1.45564722 1.45564722 0.01096694 1.45564722 0.14007778 1.45564722 0.13891667 1.67535278
September 2023 0.92725000 1.45716389 1.45716389 1.45716389 1.45716389 0.01105500 1.45716389 0.14045000 1.45716389 0.13931944 1.67622778
August 2023 0.92681389 1.45851944 1.45851944 1.45851944 1.45851944 0.01113694 1.45851944 0.14062778 1.45851944 0.13959444 1.67808333
July 2023 0.92553056 1.46063889 1.46063889 1.46063889 1.46063889 0.01121250 1.46063889 0.14081667 1.46063889 0.13991111 1.67983333
June 2023 0.92436111 1.46090556 1.46090556 1.46090556 1.46090556 0.01126694 1.46090556 0.14113611 1.46090556 0.14014444 1.68248056
May 2023 0.92334444 1.46105833 1.46105833 1.46105833 1.46105833 0.01131333 1.46105833 0.14144722 1.46105833 0.14038056 1.68438333
April 2023 0.92305000 1.46175556 1.46175556 1.46175556 1.46175556 0.01136917 1.46175556 0.14167778 1.46175556 0.14062222 1.68635000
March 2023 0.92348333 1.46427778 1.46427778 1.46427778 1.46427778 0.01144417 1.46427778 0.14201111 1.46427778 0.14093889 1.68985833
February 2023 0.92417222 1.46732778 1.46732778 1.46732778 1.46732778 0.01152444 1.46732778 0.14240833 1.46732778 0.14126667 1.69314167
January 2023 0.92452222 1.47119722 1.47119722 1.47119722 1.47119722 0.01160806 1.47119722 0.14288889 1.47119722 0.14166111 1.69675278

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