Fast Market Research recommends "Canada Pharmaceuticals & Healthcare Report Q1 2014" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 12/20/2013 -- The Canadian government is leveraging direct incentives to attract multinational pharmaceutical companies to invest in research and development in the country. In Canada's single-payer healthcare system, patented drug sales will continue to face cost-containment measures. As a result, BMI stresses that innovative pharmaceutical companies will need to take advantage of the new incentives if they are to maximize on commercial benefits.
Headline Expenditure Projections
- Pharmaceuticals: CAD25.8bn (US$25.8bn) in 2012 to CAD25.6bn (US$24.7bn) in 2013; -0.6% growth in local currency terms and -4.5% growth in US dollar terms. Forecast changed from Q413 due to macroeconomic data changes. ¦
Healthcare: CAD198.8bn (US$198.9bn) in 2012 to CAD206.5bn (US$198.5bn) in 2013; +3.9% growth in local currency terms and -0.2%growth in US dollar terms. Forecast up from Q413 due to macroeconomic data changes.
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Canada scores 68.7 in BMI's Pharmaceutical and Healthcare Risk/Reward Ratings (RRR) matrix, making it the second-most attractive pharmaceutical market in America. We have re-weighted the RRR components to improve the tool, and adjusted scores for all markets in our Pharmaceuticals and Healthcare reports.
Key Trends And Developments
- In October 2013, Health Canada approved Roche's Actemra (tocilizumab) to treat children with polyarticular-course juvenile idiopathic arthritis (polyJIA), Novo Nordisk's Levemir FlexTouch, a disposable prefilled insulin pen containing Levemir (insulin detemir); Bayer's Stivarga (regorafenib tablets) for treatment of adult patients with metastatic and/or unresectable gastrointestinal stromal tumours (GIST) who have had disease progression on or intolerance to imatinib and sunitinib.
- In October 2013, Roche opened its new pharmaceutical headquarters at 7070 Mississauga Road. Roche Canada's pharmaceutical division, previously located at 2455 Meadowpine Boulevarde in Mississauga, employs 621 people in Canada, 500 (full time, permanent) of whom are based at its head office in Mississauga..
- In October 2013, Merck & Co's subsidiary Merck Canada allocated US$16mn in grants to four university hospital centres in Quebec to support research in life sciences. Universite de Montreal, Universite de Sherbrooke, Universite Laval and McGill University will use the grants to conduct health research with a translational component in areas of unmet medical needs.
- In October 2013, the minister of Higher Education, Research, Science and Technology in Quebec Canada, Pierre Duchesne, announced the new National Research and Innovation Policy (PNRI). This will increase the budget of the Fonds de recherche du Quebec, as well as increase funding to universities, companies and other research institutions so that they see commercial benefits from their research activities.
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