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High Costs, Overly Restrictive Regulations Limit Canada's Consumer Health Products Manufacturing and Supply Chains

MISSISSAUGA, ON, Jan. 13, 2021 (Canada NewsWire via COMTEX) --

The Canadian consumer health products sector (the makers of over the counter medicines and natural health products such as pain relievers, cold remedies and vitamins) is more negatively impacted by high costs of doing business and unnecessary regulatory red tape than counterparts in other countries such as the United States, United Kingdom, and Australia, weakening essential manufacturing and supply chains, limiting innovation and product choice, and increasing costs for Canadians.

As part of a study conducted by Deloitte on behalf of Food, Health & Consumer Products of Canada (FHCP), Canadian consumer health product executives reported they are six times more likely than counterparts in the United States, the United Kingdom, and Australia to find costs of doing business restrictive.

FHCP CEO Michael Graydon commented:

"No one's health is well-served by regulations that needlessly drive-up costs and keep Canadians waiting up to ten years longer for safe, effective products available to consumers across our borders and around the world. COVID-19 has reemphasized the perils of hollowing out essential manufacturing and supply chains - perils Canada can no longer afford to ignore."

Other key findings include:

    --  100% of Canadian consumer health executives interviewed for the
        study say regulations have a negative impact on investment
        (compared to half of other global executives)
    --  Regulatory restrictions make consumer health product companies
        in Canada twice as likely to abandon new product innovations
        compared to global counterparts
    --  Top barriers to product innovation in Canada are time to
        profitability (80% of executives cite) and testing
        costs/requirements (60% cite)
    --  Per-unit manufacturing costs are 70% higher in Canada than in
        the United States, the United Kingdom, and Australia, and
        Canadian executives are three times more likely than their
        global counterparts to expect significant future increases in
        regulatory costs


The findings reinforce FHCP's previous warnings that unnecessary regulatory restrictiveness and high costs of doing business also weaken Canada's food and consumer goods sectors. FHCP is also releasing a new executive insights infographic summarizing key barriers to achieving the sector's full potential and priorities for government action in 2021.

About Food, Health & Consumer Products of CanadaFood, Health and Consumer Products of Canada (FHCP) is the voice of Canada's largest manufacturing employer. The food, health, and consumer products sector employs more than 350,000 Canadians across businesses of all sizes that manufacture and distribute the safe, high-quality products that are at the heart of healthy homes, healthy communities, and a healthy Canada. Visit OnEveryShelf.ca to learn more.

SOURCE Food, Health & Consumer Products of Canada

View original content: http://www.newswire.ca/en/releases/archive/January2021/13/c9449.html

SOURCE: Food, Health & Consumer Products of Canada

For media inquiries, contact pressinquiries@fhcp.ca or Anthony Fuchs, +1 (416)
648-8808
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