Accepted by the Vice-Chairperson, July 28, 2010
Amendment to the September
30, 2009 Voluntary Compliance Undertaking of Schering-Plough Canada Inc. to the
Patented Medicine Prices Review Board
1.1 A Voluntary Compliance Undertaking (VCU) signed on September 30, 2009 was approved by the Patented Medicines Prices Review Board (PMPRB) Chairperson.
1.1 The two ongoing terms of the VCU were:
1.1.1 A 21.25% discount from the 2009 MNE price was to be provided to all customers, and this discount was to be maintained until December 31, 2010.
1.1.2 In the event that the full amount was not offset by December 31, 2010, a further payment would be made in the amount of any remaining excess revenue as calculated by Board Staff.
1.2 On April 1, 2010, Schering-Plough discontinued the discounts against the 2009 MNE price. Cumulative excess revenues outstanding are $2,286,632.55.
2.1 The purpose of this amending agreement to the September 30, 2009 VCU is to revise Section 4 entitled “Terms of the Voluntary Compliance Undertaking”. An amendment is necessary because Schering-Plough has discontinued the discounted price described in section 1.1.1 and a lump sum payment to offset remaining excess revenues is required.
3 Terms of the Amending Agreement
3.1 Section 4 entitled “Terms of the Voluntary Compliance Undertaking” of the September 30, 2009 VCU is amended by the addition of the following terms:
3.1.1 To offset all remaining excess revenues by making a second payment to Her Majesty in right of Canada in the amount of $2,286,632.55, within 30 days of the acceptance of this amendment to the VCU.
3.1.2 Effective April 1, 2010, the 2010 non-excessive average price is $0.9313.
3.2 All other terms of the VCU signed on September 30, 2009 that are not herewith amended in substance or by necessary implication remain in force and effect.
Signature: Original signed by
Name: Carlos Dourado
Company: Schering-Plough Canada Inc.
Date: July 6, 2010