OTTAWA, ON, Sep. 3, 2026 (CNW Group via COMTEX) --
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 $25 billion to Canada's economy, supports nearly 150,000 high-value jobs, and invests $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 productionâ??underscoring its significant role in Canada's economic resilience and growth.
Deloitte's analysis, commissioned by IMC, also found that innovative medicines generate an impressive return: every $1 invested generates nearly $3 in economic value through quality jobs, labour income, and government revenue. The industry remains one of Canada's top R&D investors, outpacing both the auto and aerospace manufacturing industries.
"This data confirms what we have long known: that the innovative pharmaceutical industry is not just about better health outcomes; it is a foundational part of Canada's economy," said Dr. Bettina Hamelin, President & CEO of IMC. "We must recognize the value this industry brings to Canada and ensure the policy environment supports its contributions."
IMC cautions that recent global drug policy shifts, triggered by the introduction of most-favoured nation (MFN) pricing in the U.S., threaten this significant economic footprint and patient access to new, life-saving medicines. The report summary is available here.
About Innovative Medicines Canada
Innovative Medicines Canada (IMC) is the voice of Canada's innovative pharmaceutical industry, representing over 40 member companies. It advocates for policies that enable the discovery, development, and delivery of innovative medicines and vaccines to improve the lives of all Canadians. IMC's members contribute $25 billion to the economy, support nearly 150,000 high-value jobs, and invest $3.5 billion in research and development. Guided by the Code of Ethical Practices, all IMC members work with governments, private payers, healthcare professionals, and stakeholders in a highly ethical manner.
SOURCE Innovative Medicines Canada
SOURCE: Innovative Medicines Canada
For further information, please contact:Amedia@imc-mnc.ca
COMTEX_491978400/2197/2026-09-03T08:00:00
Copyright (C) 2026 CNW Group. All rights reserved.
