With the six-year review of the Canada-U.S.-Mexico (CUSMA) trade agreement approaching, Canada must prioritize urgently the competitiveness of its crucial life sciences sector. The pharmaceutical industry supports roughly 110,000 jobs nationally and contributes $18.4 billion to the economy.
But, with a fresh majority government in Ottawa, and an unpredictable U.S. trade policy posture reshaping global economics, experts say Canada has to do more to attract and retain innovation and accelerate patient access to potentially life-saving medications.
“Canada has been involved in so many health discoveries. The industry is a significant driver of high-value employment, international investment, and it’s a real economic driver for our country,” said Helen Trifonopoulos, Head of Market Access, Public Affairs and Patient Programs at Bristol Myers Squibb Canada.