Economic Impact of Canada's innovative pharmaceutical sector exceeds
OTTAWA, Oct. 22, 2012 /CNW/ - Three new reports released today by
Canada's Research-Based Pharmaceutical Companies (Rx&D) provide a
combined snapshot of the enormous impact the discovery and development
of innovative new medicines play in the lives of people across the
The reports—prepared independently by KPMG, RiskAnalytica and SECOR—were
commissioned by Rx&D to get a firmer understanding of the health and
economic benefits generated by research-based pharmaceutical companies
in Canada. They contain the first new data set detailing the economic
and social impact of Canada's innovative pharmaceutical industry in
"Our investments help Canadians feel better and stay healthy, allowing
them to keep working so they can continue to provide for their families
and contribute to a more productive Canadian economy," said Rx&D
President Russell Williams. "At the same time, these investments ease
the burden on our healthcare system and ensure that safe, effective
medical care is available when people need it."
Not only do these medicines save lives, prevent illness and ease chronic
pain, the reports also detail a combined investment of more than $1
billion last year in research into innovative medicines, and a total
contribution of at least $3 billion to Canada's economy.
Critical new findings delivered by the three reports include:
Canada's research-based pharmaceutical companies invested more than $1
billion last year in research into innovative new medicines.
This work contributes more than $3 billion to the Canadian economy and
supports 46,000 well-paying jobs.
Since January 2011, pharmaceutical companies invested nearly $1.5
billion into research infrastructure across the country.
Last year product donations to patients through compassionate use and
special access programs increased by 47%—to $133 million, up from $90
Over 3,000 clinical trials are currently underway in Canada, which
represents an investment of roughly $750 million into Canadian
communities and provides patients and medical professionals access to
new, potentially life-saving medications.
New therapies give Canadians increasingly customized care that meets
their needs by using family history and details about individual habits
and lifestyle to identify the most effective personalized treatment.
The three reports have been streamlined into one document that clearly
outlines the current picture of research-based pharmaceutical
companies' contributions to Canada. "Saving Lives - Transforming Care"
is available at www.canadapharma.org.
"The discovery and development of new medicines and vaccines make great
contributions to Canadian communities across the country. That's what
drives Canada's research-based pharmaceutical industry to work in
partnership with governments, Universities and the private sector to
improve access to innovative medicines and strengthen healthcare," said
the Honourable Perrin Beatty, President and CEO, Canadian Chamber of
"Developing new medicines happens over many years, and requires millions
of dollars in investment. It takes patience, skill and partnership. As
a person with asthma, and spokesperson for The Asthma Society of
Canada, the pay-off is worth it for the millions of Canadians who need
more effective treatments. It is also good for the Canadian economy,"
says Rob Oliphant, CEO, the Asthma Society of Canada. "It's vital that
Canada finds new and creative ways to foster the research and
development environment required to attract and stimulate continued
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
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
SOURCE: CANADA'S RESEARCH-BASED PHARMACEUTICAL COMPANIES (RX&D)
For further information:
Telephone: 613-236-0455 (extension 831)