This week’s edition includes insights from a recent Statistics Canada report, revealing a concern about the growth of Canada’s innovative pharmaceutical industry, and an analysis from the Winnipeg Free Press, highlighting the high stakes surrounding the Pharmacare bill currently under Senate review.
The innovative pharmaceutical industry’s research and development (R&D), operating profits, and employment rate have recorded slowing growth, according to a new Statistics Canada report.
The pharmaceutical industry reported that its added value to the gross domestic product only increased from $15.9 billion to $16 billion, tallying a $2.2 billion loss and a 4.9% decline in employment in 2021.
Despite the decline in key measures, Innovative Medicines Canada (IMC) highlighted the industry’s impact on the Canadian economy. According to the IMC, the innovative pharmaceutical industry has invested nearly $3 billion in R&D, generating 102,000 jobs.
Shifting to legislative proceedings surrounding Bill C-64, the Pharmacare Act, witnesses from the heads of the Canadian Association for Pharmacy Distribution Management (CAPDM), the Canadian Federation of Nurses Unions, and JDRF Canada were present during the Standing Committee on Health (HESA) May 24 meeting.
Angelique Berg, President and CEO of CAPDM, supported the bill's goal of balancing medication affordability and access but cautioned against potential negative impacts on the supply chain and drug pricing.
Linda Silas, President of the Canadian Federation of Nurses Unions, urged legislators to pass the bill and advocated for a universal, single-payer pharmacare program.
Although, Jessica Diniz, President and CEO of JDRF Canada, emphasized the need for equitable and affordable access to medications and devices for managing type 1 diabetes, she supported the bill's goals while recommending that it include provisions.
However, Dr. Durhane Wong-Rieger, President and CEO of the Canadian Organization for Rare Disorders, expressed concerns about the bill's implications for the rare disease community, saying that only 5% of rare diseases have effective therapies, with many patients facing delays and access barriers.
The Winnipeg Free Press provides a critical analysis of the ongoing efforts surrounding the Pharmacare bill, stating that it “could be a crowning achievement for the federal Liberal-NDP alliance,” if they get it right.
The op-ed outlined major concerns on the ambitious bill, including high costs and operational problems. If passed, the first phase of Pharmacare will cost $1.5 billion over five years, but a full coverage program will amount to $40 billion annually, translating to higher taxes for Canadians. Furthermore, the federal government’s operational problems on the dental care program does not bode well for Pharmacare.
In other news, the Strongest Families Institute, a charity offering phone-based mental health programs for children and families, has expanded its services in Newfoundland and Labrador. Health Minister Tom Osborne re-announced a $500,000 investment from Budget 2024, allotting resources for anxiety, depression, and behaviour issues.
The provincial government of Newfoundland and Labrador also invested over $450,000 from its Research and Innovation Fund to support Memorial University’s acquisition of the Orbitrap Mass Spectrometry system. The state-of-the-art equipment will enable research in chronic diseases such as osteoarthritis, nonalcoholic fatty liver disease, Alzheimer’s, and multiple sclerosis.
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