Quebec Budget 2017-18: Innovative Medicines Canada welcomes commitments to the Quebec Life Sciences Ecosystem
Montreal, March 28, 2017 – In response to the budget tabled by Quebec’s Finance Minister, Carlos Leitao, Innovative Medicines Canada, is pleased to note that the government’s commitments to the Quebec life sciences sector are sending an encouraging signal to Quebec’s pharmaceutical industry.
“The announcement of a Quebec strategy for the life sciences sector and of another dedicated to research and innovation hold the promise of concrete actions to attract more pharmaceutical research in Quebec and improve access to medicines for the benefit of the Quebec population,” said Pamela Fralick, President, Innovative Medicines Canada.
“Our industry welcomes the government’s commitments to support the innovative life sciences sector in Quebec. We call on the government to define, in consultation with our members, the terms that will allow faster access to therapeutic innovations,” added Frédéric Fasano, Servier Canada’s CEO and President of Innovative Medicines Canada’s Quebec Committee.
Innovative Medicines Canada notes the following measures:
- providing faster access to certain medicines;
- creating an innovation bureau within the Ministry of Health and Social Services to accelerate the introduction of innovative technologies and their optimal deployment;
- facilitating access to data, particularly in the health field;
- setting up a fund to support public and private initiatives in the life sciences sector;
- increasing the budgets of Quebec research funds; and
- supporting research organizations, including IRICoR, Génome Québec and the Quebec Consortium for Drug Discovery (CQDM).
Innovative Medicines Canada notes that the various measures taken by the Quebec Government in recent years have made it possible to control drug expenditures. It hopes that the upcoming Quebec life sciences strategy is deployed quickly and includes bold targets. It is also reaching out to the Quebec Government to continue the dialogue, particularly with regard to accelerating the integration of innovations and the sustainability of the health care system, while ensuring that Quebecers can obtain the best treatments available.
Quebec’s innovative pharmaceutical industry:
- generated more than $ 1.4 billion in the Quebec economy in 2014;
- invested an average of $ 430 million in R & D in Quebec each year over the past decade, representing nearly 40 % of investments made in Canada; and
- represents a strong link in Quebec’s life sciences ecosystem, in which all relevant stakeholders helped create more than 56,000 direct and indirect jobs in Quebec in 2014.
About Innovative Medicines Canada
Innovative Medicines Canada is the national voice of Canada’s innovative pharmaceutical industry. We advocate for policies that enable the discovery, development and commercialization of innovative medicines and vaccines that improve the lives of all Canadians. We support our members’ commitment to being valued partners in the Canadian healthcare system.
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For further information:
Quebec Director, Innovative Medicines Canada