Fiscal Update 2018: Innovative Medicines Canada welcomes renewed commitment to competitiveness
Ottawa, November 21, 2018
The following statement can be attributed to Innovative Medicines Canada President, Pamela Fralick.
“As a driver of innovation, the innovative pharmaceutical industry welcomes the targeted measures to boost Canada’s competitiveness and improve Canada’s ability to attract global investments as part of today’s Economic and Fiscal Update:
The innovative pharmaceutical industry is eager to work with all governments, including the federal government, and all stakeholders in the life sciences sector to create the structural and cultural conditions needed to make Canada a top three global hub for the health and life sciences sector by 2025, an objective outlined in the recent Health and Biosciences Economic Strategy Table Report. According to a 2017 analysis by EY, Innovative Medicines Canada member companies generate $19-billion in economic activity, invest $1.2-billion annually into R&D to stimulate innovation and support 30,000 high value jobs. Agile regulations that are predictable, efficient and support safety will allow our members to build on our sector’s already strong position as the third largest funder of R&D in Canada.”
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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