Canada's Quebec government earmarks over C$122 million for biotech strategy; move welcomed by industry

In Canada, Quebec Province Minister of Economic Development, Innovation and Export Trade, Clement Gignac, and Minister of Health and Social Services, Yves Bolduc have, unveiled the new Quebec Biopharmaceutical Strategy. Under this the Quebec government will earmark C$122.8 million ($117.8 million) over the next three years for the region's biopharmaceutical industry, in a move that was applauded by the industry.

The Quebec Biopharmaceutical Strategy will enable the Province to consolidate its position as a Canadian leader in the life sciences sector and as an internationally recognized hub in this field. With this strategy Quebec will ensure that it contends with international competition by offering companies one of North America's most favorable business environments as regards to their future development, the government officials stated.

'We want Quebec to be acknowledged as an essential hub in terms of international biopharmaceutical investment projects, whether for the quality of its manpower, the efficiency of its technological innovation system, its know-how in the area of research and development, or the availability of capital. The Quebec government has already taken the initiative, in particular in conjunction with its Research and Innovation Strategy, to offer an environment suited to the development of knowledge-based economic sectors. We also broadened access to venture capital in the last budget. We recognize the biopharmaceutical sector's importance and its efforts to bolster Quebec's leadership and prosperity. Today, we would like to acknowledge this promising industry 's stakeholders,' stated Minister Gignac.

The Quebec Biopharmaceutical Strategy centers on five areas of intervention: emphasizing development and spinoff from research; supporting the development of biotechnology firms; supporting the development of pharmaceutical firms; ensuring maintaining manpower to satisfy the industry's needs; and promoting Quebec's image in the biopharmaceutical sector worldwide

The Quebec biopharmaceutical industry has enjoyed remarkable growth over the past 15 years and continues to expand. It is comprised of 145 companies, and accounts for 21,000 jobs.

Has adopted some BIOQuebec recommendations

Reacting to Minister Gignac's announcement, made during the BioContact symposium which took place in Quebec, Yves Rosconi, president of trade body BIOQuebec's board of directors, said: "We are thrilled that the Quebec government has finally adopted a strategy that shows the government's will to support our industry, which has been confronted with unprecedented difficulties for nearly a year now."

He continued: "We are also extremely pleased to note that the Minister has retained some of the recommendations made by BIOQuebec. This way, biotechnology companies within the human health industry will benefit from a short term support measure thanks to the quarterly financing of their tax credits for scientific research and experimental development." He also added that this measure, which will help companies in managing their liquidity, was part of a series of temporary emergency measures recommended by BIOQuebec, to enable biotechnology companies to remain operational until the financial markets have been restored.

Move also backed by IFPMA

Adding its voice to the news was the International Federation of Pharmaceuticals Manufacturers and Associations (IFPMA) notes with approval Quebec's new Biopharmaceutical Strategy and salutes the provincial government's support for the biopharmaceutical industry, and its recognition of the important role that the sector plays, both as an economic driver and as a provider of life-saving medicines and vaccines. IFPMA acting director general Michael Boyd deems this governmental initiative to be a strong example of how bold policy decisions can ensure that the research-based pharmaceutical industry can play a leading role in improving access to innovative medicines and health care systems across the world.