2019 Annual Report

Innovative Medicines Canada represents Canada’s innovative pharmaceutical industry.

Innovative Medicines Canada (IMC) is the national voice for the research-based pharmaceutical industry in Canada. Our members make significant contributions to the country’s knowledge economy through R&D investments, the creation of high value jobs and support for homegrown startups. They are also key contributors to the success of our health systems: The 500 new products that are currently in development in Canada, including therapies focused on cancer treatments, infectious diseases and vaccines, have the potential to help Canadians and people all over the world live longer and healthier lives, and save money for health systems in the process.

Since the days of Banting and Best, innovative pharmaceutical companies have worked to translate the best available science into beneficial treatments which represent real hope for patients and families impacted by disease and suffering. And today the future of medicines is brighter than ever.

There are more than 500 new medicines currently in development in Canada and 93 per cent of this research is funded by industry. Innovative Medicines Canada’s 40 member companies are working on exciting new treatments for multiple sclerosis, arthritis, cancer, diabetes, among others—and are using cutting edge research technologies to find new medicines faster and more effectively

I am extremely proud of the work accomplished by the industry over the course of this difficult year. The regulatory changes to the Patented Medicine Prices Review Board are already being felt by our Canadian companies and affiliates. While the full impact of these changes is not yet known, many companies are reporting delays in launching new products, are downsizing their workforces, and are being forced to put Canadian research projects on hold. We have complex challenges ahead of us, but our members are more aligned and united than ever to address them, for the health of all Canadians.

And we recognize that we cannot do it alone. With like-minded stakeholders we will continue to advocate for issues that are of critical importance to Canadians, including improving access to rare disease drugs and creating a national pharmacare program built on the strengths of our dual system, so that no Canadian falls through the cracks or loses the high standard of coverage they have today.

Progress depends on meaningful partnerships with governments, healthcare professionals and scientists, keeping patients at the centre of our work at all times. Guided by our updated Code of Ethical Practices, we continue our commitment to being respected partners, using data and research to inform our policy choices. I am extremely proud to represent an industry that discovers, develops and delivers medicines that save and prolong lives, and enhance the quality of life for all Canadians. Our members work passionately and tirelessly to make a difference for patients, and for the future of our health systems. As Canada’s regulatory environment and health systems evolve, we will continue to advocate for a holistic approach to ensure better access to new medicines and vaccines, and for a vibrant life sciences sector that encourages health research and innovation.

Pamela C. Fralick
President

Visit the 2019 Annual Report website.