Economic impact of Canada's innovative pharma sector exceeds C$3-billion

Three new reports released 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 country.

“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, adding: “At the same time, these investments ease the burden on our health care system and ensure that safe, effective medical care is available when people need it.”

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 five years.

Critical new findings delivered by the three reports include:

• Canada’s research-based pharmaceutical companies invested more than C$1 billion ($1.0 billion) last year in research into innovative new medicines.
• This work contributes more than C$3 billion to the Canadian economy and supports 46,000 well-paying jobs.
• Since January 2011, pharmaceutical companies invested nearly C$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 C$133 million, up from C$90 million.
• Over 3,000 clinical trials are currently underway in Canada, which represents an investment of roughly C$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.