2017 Annual Report

Innovative Medicines Canada represents Canada’s innovative pharmaceutical industry.

Our members make significant contributions to the country’s economy through its R&D investments, the creation of high value jobs and support for homegrown startups, while providing funding for patient support programs, medical education, as well as local community organizations.

I joined Innovative Medicines Canada at the start of the year following many years working with patients and leading health systems and patient-oriented organizations. Throughout my career – this year included – my colleagues and I have faced many different challenges and problems in our healthcare system. But I have also been proud and excited to bear witness to many advances that have been the result of efforts of the Canadian and international research community working together to address previously intractable problems.

Today, our industry has never been better equipped to harness the potential of science, technology and data to improve Canadians’ quality of life and, at the same time, generate wealth for the country through a vibrant, innovative life sciences industry. I do not exaggerate when I say that no other industry can have such a sweeping, transformational effect on a country’s economy and its people than Canada’s medical research community.

In March of this year, the Hon. Bill Morneau used his budget speech to identify the health and life sciences sector as pivotal to positioning Canada as global centre for innovation. Around the same time, I was given the mandate from our members to start a new conversation with government and decision makers about doing things differently. Our members share the same goals as the government and we believe that by working together, we can find win-win solutions that benefit patients, strengthen the healthcare system, address budget sustainability, foster innovation and drive economic growth.

There is no denying we have some complicated challenges ahead of us. Healthcare is undergoing dramatic change, with aging populations and game-changing but expensive scientific breakthroughs putting pressure on governments to lower costs and achieve sustainability. At the same time, global competition to attract coveted pharmaceutical investment is heating up as countries look to leverage the dual benefits of enhanced healthcare and economic growth and position themselves as global life science leaders.

We are an industry of innovators, employers, investors, mentors, partners and catalysts. On behalf of all Canadians, the time is now to seize the moment and build a better, more innovative and sustainable system for the future. Our collective knowledge and passion serve as a powerful platform for us to forge a new future; one that will benefit everyone, but especially patients and families in Canada.

I want to thank our Board of Directors, governance team members and staff for their unwavering dedication, guidance and hard work. From my first day, their commitment to making a difference has been a beacon for me, for all of us, as we strive to make a meaningful difference.

Thank you.

Pamela Fralick
President

Read the full 2017 Annual Report.