Quebec Budget 2019-2020: Innovative Medicines Canada welcomes investments in R&D and artificial intelligence
Montreal, March 21, 2019 – In response to the budget tabled by Quebec’s Finance Minister, Éric Girard, Innovative Medicines Canada (IMC) welcomes the first budget of the new Quebec government, which sends an encouraging signal to the life sciences industry.
“As a driver of health innovation, the innovative pharmaceutical industry offers its full cooperation to further improve access to medicines and vaccines for the benefit of Quebecers and participate in the growth of the knowledge economy of Quebec,” said Pamela Fralick, President of IMC.
IMC acknowledges the various measures to facilitate access to data and accelerate the adoption of artificial intelligence. Supporting Génome Québec and research on Alzheimer’s disease, as well as improving front-line health services and support for seniors and caregivers, are also promising initiatives.
Ms. Fralick also encourages the government to make the life sciences sector central to the province’s economy and to rapidly implement actions that favorably positions Quebec, including by following its electoral commitments to support clinical research and reduce access times to innovative medicines, which averaged almost 600 days in 2017.
IMC encourages the Quebec government to actively participate in ongoing discussions at the federal level regarding innovative medicines and the life sciences sector to ensure that Canadian policies and regulations are consistent with those of Quebec and to support its goals.
Finally, it is important to note that:
- The expenditures of the public drug insurance plan (PDIP) are stable. The government’s spending in 2018-2019 is at the same level as six years ago. It should be noted that during this same period, RAMQ expenditures increased by 24 per cent and health expenditures by 28 per cent.
- The activities of innovative pharmaceutical companies contribute $3.1-billion annually to Quebec’s GDP. Quebec attracts a large share of Canadian pharmaceutical head offices, jobs and R&D, at 50 per cent, 42 per cent and 40 per cent respectively.
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:
Telephone: (514) 241-7784