OTTAWA, Feb. 4 /CNW/ - The following is a statement by Russell Williams, President of Canada's Research-Based Pharmaceutical Companies (Rx&D), on the initiative by the Canadian and U.S. governments to
create a Regulatory Cooperation Council to improve competitiveness and
enact smarter, more efficient regulations
"We commend Prime Minister Harper and President Obama for their
commitment to reduce red tape and streamline regulations through the
creation of a Regulatory Cooperation Council.
"Canada has a prescription drug regulatory regime that is a half century
old. Modernizing regulations and building upon practices in Canada, the
U.S. and other developed countries will reap huge benefits for Canadian
"We welcome the commitment to enact "smarter, more effective approaches"
to regulation while maintaining high standards of public health and
safety and without compromising Canadian sovereignty.
"Delays don't make prescription medicines any safer and mean that
patients may be denied access to a new medication or vaccine that could
save their lives. By enacting smart regulations and reducing
unnecessary delays, we will be able to ensure patients have access to
the right medication at the right time while also improving patient
"Scientific knowledge is more powerful when it is shared. Data sharing
and building on best practices internationally will also allow for
better monitoring of a drug's safety profile before and after it
reaches the pharmacy shelf. Taxpayers will also benefit from the
savings that harmonization will bring.
"New medicines and vaccines reduce workplace disability and save on
health care costs for surgery, hospitalization and doctor visits. They
also help in the fight against chronic disease which costs our health
care system about $150 billion a year.
"Canada must take steps to strengthen intellectual property rights,
reduce red tape and provide access to new treatments if we want to lead
the world in attracting jobs and investment. Opening the doors to
innovation will help Canada attract a larger share of global
investments in life sciences research while preserving and creating
jobs in the knowledge economy.
"We look forward to collaborating with the governments to ensure that
these initiatives are put into action for the benefit of Canadians as
well as for our neighbour and largest trading partner."
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
SOURCE CANADA'S RESEARCH-BASED PHARMACEUTICAL COMPANIES (RX
For further information: