When we speak of the economy, we tend to talk of it in terms of its health. A declining economy is lethargic and sluggish, while a growing one is vibrant and robust. An often overlooked, yet integral, contributor to the health of the Canadian economy is the pharmaceutical industry and the partnerships it creates – partnerships to develop new innovative medicines that boost our physical health and improve the health of our bottom line.
An EY (Ernst and Young) report commissioned by Innovative Medicines Canada (IMC) pegs the pharmaceutical industry’s overall direct and indirect economic value at $19.2 billion (2016), and that figure only tells part of the story. Through unique work and key partnerships, the sector plays an important role in helping researchers bring new medicines to patients who need them.
Ground-breaking new treatments based on patients’ individual genetics, for example, require collaboration.
