Pharma trade group Innovative Medicines Canada (IMC) welcomes Deloitte Canada’s report showing the innovative pharmaceutical industry is a strategically important sector for Canada’s economic growth and productivity.
According to the findings, the industry contributes C$25 billion (US$18.1 billion) to Canada’s economy, supports nearly 150,000 high-value jobs, and invests C$3.5 billion in research and development (R&D). It is notably larger than many traditional industries, including potash mining, steel and aluminum manufacturing, and dairy production – underscoring its significant role in Canada’s economic resilience and growth.
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