LETTER FROM THE PRESIDENT
Since the days of Banting and Best, innovative pharmaceutical companies have worked to translate the best available science into beneficial treatments which represent real hope for patients and families impacted by disease and suffering. And today the future of medicines is brighter than ever.
There are more than 500 new medicines currently in development in Canada and 93 per cent of this research is funded by industry. Innovative Medicines Canada’s 40 member companies are working on exciting new treatments—for multiple sclerosis, arthritis, cancer, diabetes, among others—and are using cutting edge research technologies to find new medicines faster and more effectively.
I am extremely proud of the work accomplished by the industry over the course of this difficult year. The regulatory changes to the Patented Medicine Prices Review Board are already being felt by our Canadian companies and affiliates. While the full impact of these changes is not yet known, many companies are reporting delays in launching new products, are downsizing their workforces, and are being forced to put Canadian research projects on hold.