Budget 2016: Innovative Medicines Canada supports measures to stimulate life sciences ecosystem

OTTAWA, March 22, 2016 /CNW/ - In response to the first budget tabled by federal Minister of Finance Bill Morneau, Innovative Medicines Canada is pleased to see that innovation and excellence in science has been recognized as the path forward to grow Canada's economy, and that steps are being taken to make Canada a real global competitor.

"Budget 2016 takes great steps forward in recognizing the value that life sciences research brings to Canada's knowledge-based economy," said Russell Williams, President of Innovative Medicines Canada. "In particular, we are pleased to see that the government's Innovation Agenda focuses on stimulating scientific research, development and commercialization."

Innovative Medicines Canada supports the Government in its goal to have the Canada-EU Comprehensive Economic and Trade Agreement (CETA) signed in 2016 and brought into force in 2017. The association is also pleased to see the government's dedication to the value of innovation and economic growth through:

• The announcement of the Innovation Agenda, strengthening science and research; supporting business growth and innovation;
• Expanding trade opportunities through quick ratification of the CETA;
• Improving immunization coverage rates; and
• Strengthening Canada's healthcare system.

"The research and development of innovative medicines is rapidly evolving, and Canada can be on the leading edge with its world-class research infrastructure, its innovative funding models and its integrated research networks and innovation ecosystem. The new government's commitment to innovation is timely. Canada can seize this exciting opportunity for growth in health and life sciences and make the sector a reliable, purposeful driver of its economy," said Williams. "We look forward to working closely with the government as a partner on the Innovation Agenda."

ABOUT INNOVATIVE MEDICINES CANADA

Innovative Medicines Canada is the national voice of Canada's innovative pharmaceutical industry. We advocate for policies that enable the discovery, development and commercialization of innovative medicines and vaccines that improve the lives of all Canadians. We support our members' commitment to being valued partners in the Canadian healthcare system.

SOURCE Innovative Medicines Canada

Sarah Douglas, Media Relations, Telephone: [phone], E-mail: [email protected]