MONTREAL, Feb. 18 /CNW/ - Rx&D President Russell Williams made the following statement to
complement Merck Canada's announcement earlier today of a $6.8 million
investment in AmorChem, a life science venture capital fund that will
provide the necessary resources to advance research projects through
the registration and marketing stages.
"The chance to innovate and improve patient health and quality of life
through scientific discoveries is what motivates all those active in
the life science community. In Quebec this is reflected in lasting
partnerships that include not only government and industry, but also
universities, hospitals, health care professionals, and the
research-based pharmaceutical community.
"In light of the ferocious international competition for pharmaceutical
investment, partnerships must be effective and promote constant
improvement in the life sciences industry's business environment,
particularly by providing patients with better access to new therapies.
"This major investment from Merck Canada—in line with the company's
commitment to invest $100 million in Quebec's life sciences sector—is a
perfect example of innovation investment, which will enhance Quebec's
reputation as an international centre for research and innovation.
"Quebec's reputation is based on its clearly expressed desire to
maintain a strong, thriving pharmaceutical research industry and
provide an attractive business environment for innovation investment
through unique measures like the 15 year rule, which recognizes the
value of innovation in ensuring Quebecers' health and creating
collective wealth, as well as the Quebec Drug Policy and the Quebec
Research and Innovation Strategy. And it produces results! Quebec
attracts on average 45% of all pharmaceutical R&D investment in Canada.
Quebec has the highest share of R&D investment ($64) per inhabitant,
far ahead of other provinces like Ontario (SECOR-PMBRB).
"It is by working together that we will consolidate the position of
Quebec and Canada as leaders in the pharmaceutical research and
development sector, as actions like that of Merck Canada demonstrate."
Rx&D is an association of leading research-based pharmaceutical
companies dedicated to improving the health of all Canadians through
the discovery and development of new medicines and vaccines. Our
community represents over 15,000 men and women working for 50 member
companies and invests over $1 billion a year in research and
development to fuel Canada's knowledge-based economy. Guided by our
Code of Ethical Practices, our membership is committed to working in
partnership with governments, healthcare professionals, and
stakeholders in a highly ethical manner.
SOURCE CANADA'S RESEARCH-BASED PHARMACEUTICAL COMPANIES (RX
For further information:
François Lessard, Communications Telephone: 613-236-0455 E-mail: email@example.com