Innovative Medicines Canada Statement on Federal budget 2022
Ottawa, April 8, 2022 – Innovative Medicines Canada (IMC), the association representing Canada’s research-based pharmaceutical sector, issued the following statement in response to Federal Budget 2022.
“IMC is pleased with the ongoing commitments to increased access to innovative medicines and treatments for all Canadians, and to the life sciences sector in Budget 2022,” said Pamela Fralick, President of IMC. “It’s critical for any pharmacare program to build on the strengths of our current dual-payer model, while focusing on improving access for the uninsured and underinsured.”
The association looks forward to working with the government to ensure a robust, resilient health system and a strong, competitive life sciences sector ready to meet future challenges. We also look forward to the next phase in the development of a national strategy on drugs for rare diseases. During initial consultations, IMC emphasized the need for the federal government to work collaboratively with provinces, industry, and other stakeholders to create a value-based, pan-Canadian model that provides patients with timely access to new treatments.
In the wake of a global pandemic, we cannot ignore the critical importance of Canada’s role in the global pharmaceutical supply chain. Continued strategic investment, not only in biomanufacturing, but also through a comprehensive life sciences strategy, is needed for Canada’s pharmaceutical industry to attract global investment while ensuring the health and well-being of Canadians for years to come.
About Innovative Medicines Canada
Innovative Medicines Canada is the national association representing the voice of Canada’s innovative pharmaceutical industry. The association advocates for policies that enable the discovery, development, and delivery of innovative medicines and vaccines to improve the lives of all Canadians and supports the members’ commitment to being a valued partner in the Canadian healthcare system. The association represents 49 companies who invest nearly $1.2 billion in R&D annually, fueling Canada’s knowledge-based economy, while contributing $8 billion to Canada’s economy. Guided by the Code of Ethical Practices, all members work with governments, private payers, healthcare professionals, and stakeholders in a highly ethical manner.
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