Ottawa, May 27, 2025 – Today, His Majesty King Charles III delivered the Speech from the Throne, outlining the federal government’s legislative agenda as Canada’s 45th Parliament begins its work.
It was a historic day, only the third time a monarch has delivered the Speech.
Innovative Medicines Canada (IMC) commends the government’s commitment to strengthening the economy and addressing the affordability challenges facing many Canadians. However, IMC encourages the government to recognize that innovation in healthcare and life sciences must be part of any comprehensive economic strategy.
In 2022, the innovative medicines industry contributed $18.4 billion in total economic activity, invested up to $3.2 billion in R&D, and supported more than 110,000 jobs across the country.
Economic security and health security go hand in hand. Building ‘One Canadian Economy’ starts with supporting the health and well-being of every Canadian. Innovation in healthcare not only improves lives but also drives investment and global competitiveness.
While the Liberal Party’s campaign platform included several commitments to reduce wait times for life-saving medicines and increase health investment opportunities in Canada, IMC would have welcomed seeing these priorities reflected in today’s Speech.
About Innovative Medicines Canada
Innovative Medicines Canada (IMC) is the national association representing Canada’s innovative pharmaceutical industry. The industry proudly supports more than 110,000 jobs, contributes a total of $18.4 billion to the economy, sponsors the majority of clinical trials in Canada, and invests close to $3.2 billion in research and development each year. IMC advocates for policies that enable the discovery, development, and delivery of innovative medicines and vaccines to improve the lives of all Canadians. The association and its members are committed to being solutions-oriented partners in Canada’s healthcare system and have contributed more than $30 million towards applied health systems research through the Health Research Foundation (HRF). Guided by the Code of Ethical Practices, all members work with governments, private payers, healthcare professionals, and stakeholders in a highly ethical manner.
For further information:
media@imc-mnc.ca
Photo: The Canadian Press / Sean Kilpatrick
