Rx&D supports competitive tax rates for the creation of jobs and investment in the life sciences sector.

OTTAWA, Feb. 8 /CNW/ - The following is a statement by Russell Williams, President of Canada's Research-Based Pharmaceutical Companies (Rx&D) on the tax reduction policy initiative of the Canadian government to improve Canada's ability to compete in the global economy.

"The initiative to improve Canada's corporate tax rates is an important element in making sure Canada's economic recovery creates an environment that supports job creation and investment.

"Canada is emerging from the world-wide economic turmoil in a position to build on the strengths that helped us to weather the disruption and dislocation faced by other countries. These strengths are based on our ability to compete in the global economy and to create the high-value, knowledge-based jobs and careers that support hard-working Canadian families.

"Tax rates that are competitive, that encourage and expand investment and that put Canada at the forefront of leading edge industries are a vital part of sustaining and building on our economic recovery.

"We view an effort to roll back the competitive tax regime as an impediment to the continued success of innovative Canadian companies. Along with the protection of intellectual property rights and open procurement policies, competitive tax regimes are the key to Canada's continued prosperity and capacity to create the kinds of jobs we want in life sciences. Our health care system also benefits from the value that new life-saving and life enhancing medicines and vaccines create.

"A tax environment that helps our companies compete for global investments will help sustain and accelerate our economic recovery and will lay the foundation for employment growth and opportunity for individual Canadians, their families and for communities."

About Rx&D

Rx&D is the association of leading research-based pharmaceutical companies dedicated to improving the health of Canadians through the discovery and development of new medicines and vaccines. Our community represents 15,000 men and women working for 50 member companies and invests more than $1 billion in research and development each year 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: flessard@canadapharma.org

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CANADA'S RESEARCH-BASED PHARMACEUTICAL COMPANIES (RX&D)

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