|By Marketwired .||
|June 24, 2014 03:00 PM EDT||
SAN DIEGO, CALIFORNIA -- (Marketwired) -- 06/24/14 -- Industry Canada
Mike Lake, Parliamentary Secretary to the Minister of Industry, today took part in the 2014 BIO International Convention, the world's largest gathering of delegates from biotechnology and pharmaceutical firms and scientific leaders. The Canadian delegation, well over 900 strong, included representatives from about 80 companies from all regions of the country.
During his remarks at the opening of the Canada Place pavilion, Parliamentary Secretary Lake promoted pharmaceutical investment in Canada. He highlighted the many competitive advantages of investing in Canada, including high-quality research capabilities and partnership opportunities, as well as the lowest debt-to-GDP ratio and business operating costs in the G7.
Parliamentary Secretary Lake will also take part in the BIOTECanada Gold Leaf Awards ceremony, which recognizes Canadian excellence in the life sciences.
-- Canada's life sciences industry contributed more than 65,000 jobs and $40 billion to Canada's economy in 2010. -- The Canadian pharmaceutical sector has a range of players, including firms that have grown in Canada as well as global companies, involved in developing and manufacturing diagnostics tools, drugs and vaccines. -- Canada is recognized around the world for its strength in health research and expertise in clinical trials. Our biopharmaceutical small and medium-sized enterprises make up one of the larger R&D product pipelines in the world. Canada also has comparative advantages in manufacturing, with emerging capabilities in specialty processes. -- Canada's world-class health research institutions and research networks are integral partners in knowledge translation. Many global biotech players have significant investments in Canada as well as strategic partnerships with our researchers and companies. -- Through Economic Action Plan 2013, the $200-million Advanced Manufacturing Fund was created to encourage the establishment of innovative, first-in-class facilities in Canada. This will apply significantly to the life sciences. -- Canada's economy is widely recognized as one of the world's strongest. For the past decade, Canada has led the G7 in economic growth. For the sixth consecutive year, the World Economic Forum has declared our banking system the soundest in the world. -- The government is making renewed investments in many national Centres of Excellence (such as the Centre for Drug Research and Development in Vancouver and the Quebec Consortium for Drug Discovery in Montreal) and providing support for a new research-industry partnership program at Genome Canada. These programs help turn our incredible innovative capacity into medicines benefiting patients.
"Our government's top priority is creating jobs and economic growth. Investment in Canada's innovative life sciences network is an important part of that plan. The competition for countries to lead the bioeconomy is intense. That's why we have worked to position Canada as the best place in the world to do business. In my discussions with firms at the BIO International Convention, it became clear that we have a remarkable opportunity in Canada to attract investments and leverage our strengths in science, innovation and manufacturing. We have many competitive advantages, including a highly educated workforce, acknowledged strengths in scientific research and a sound business environment. Our companies are primed for success and competing globally."
- Mike Lake, Parliamentary Secretary to the Minister of Industry
- Life Science Industries page on the Industry Canada site
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Office of the Minister of Industry