Ottawa, July 24, 2026 – Innovative Medicines Canada (IMC) acknowledges today’s publication of the Pharmaceutical and Life Sciences Sector Task Force report by the ministers of health and industry, featuring recommendations to improve patient access to life-saving medications. Turning these recommendations into urgent action will be critical given recent global drug policy shifts triggered by U.S. most-favoured nation pricing, which are already influencing where innovative medicines are launched.
The report represents the first public recognition of the need to address longstanding structural challenges facing Canada’s life sciences sector, including excessive red tape and the undervaluation of innovative medicines, both of which delay patient access and deter innovation and investment across the country.
“IMC and its members are grateful for the opportunity to participate in the task force and to address these problems in a collaborative way,” said Dr. Bettina Hamelin, President and CEO of IMC. “The task force’s 39 recommendations reflect the breadth of this work, but to turn them into real progress for patients, the federal government must prioritize what matters most: structural reform, an open market that allows both domestic and global companies to flourish, and enhanced federal investment in innovative medicines.”
IMC and its members are committed to continuing to work constructively with all orders of government and partners across the sector to urgently implement structural reforms that will help build a stronger future for Canadians, our healthcare systems, and Canada’s economy. Global pharmaceutical CEOs stand ready to support this work directly and meet with Prime Minister Carney in person to discuss modernization and red tape reduction measures that ensure innovative medicines continue to be launched in Canada.
About Innovative Medicines Canada
Innovative Medicines Canada (IMC) is the voice of Canada’s innovative pharmaceutical industry, representing over 40 member companies. It advocates for policies that enable the discovery, development, and delivery of innovative medicines and vaccines to improve the lives of all Canadians. IMC’s members contribute $25 billion to the economy, support nearly 150,000 high-value jobs, and invest $3.5 billion in research and development. Guided by the Code of Ethical Practices, all IMC members work with governments, private payers, healthcare professionals, and stakeholders in a highly ethical manner.
For further information, please contact: media@imc-mnc.ca
Federal task force report marks important step for Canada’s life sciences sector
