IMC Supports National Biomanufacturing and Life Sciences Strategy Commitment to Ensuring Best-in-Class Regulation
Ottawa, Ontario--(Newsfile Corp. - July 29, 2021) - Innovative Medicines Canada (IMC) is the national voice for Canada's innovative pharmaceutical industry. Our members produce many of the vaccines, medicines, and diagnostics that are enabling Canada to emerge from the global pandemic that continues to have a devastating impact on the health and prosperity of Canadians.
Today, Innovation, Science and Economic Development Canada (ISED) and Health Canada launched Canada's Biomanufacturing and Life Sciences Strategy. This five-pillar national strategy signals the federal government's commitment to collaborating with industry and other stakeholders in ensuring a robust life sciences sector to develop and deliver innovative medicines and vaccines.
Our common goal is to support the health of all Canadians. IMC and its members applaud the announcement of a national strategy and remain committed to being a trusted partner in building a strong life sciences sector in Canada. IMC members support increasing domestic capacity, growing a competitive sector, and developing a robust biomanufacturing ecosystem.
We are particularly encouraged by Pillar 5 of the strategy - Enabling Innovation by Ensuring World Class Regulation, and by the inclusion of both ISED and Health Canada as integral to this strategy. To realize the government's objectives, a reassessment and pause with respect to proposed regulatory changes to the Patented Medicine Prices Review Board (PMPRB) and a holistic approach to the life sciences sector is essential.
About Innovative Medicines Canada
Innovative Medicines Canada is the national association representing the voice of Canada's innovative pharmaceutical industry. The association advocates for policies that enable the discovery, development, and delivery of innovative medicines and vaccines to improve the lives of all Canadians and supports the members' commitment to being a valued partner in the Canadian healthcare system. The association represents 48 companies who invest nearly $1.2 billion in R&D annually, fueling Canada's knowledge-based economy, while contributing $8 billion to Canada's economy. Guided by the Code of Ethical Practices, all members work with governments, private payers, healthcare professionals, and stakeholders in a highly ethical manner.
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