Chronic under-reporting of pharma R&D investment works against Canada

A new KPMG study shows that R&D investments made by Canada's innovative pharmaceutical sector continue to be chronically under-reported by the government of Canada at an increasing amount year-over-year.

The Summary of 2013 R&D Spending and Investments by Rx&D Members is the fourth annual report commissioned by Canada’s Research-Based Pharmaceutical Companies (Rx&D) that shows an alarming disparity between what the government reports and the more than C$1 billion ($928.2 million) that the industry actually invests annually. For 2013, KPMG estimates 46% of the industry’s R&D investment will be overlooked by the Patented Medicine Prices Review Board (PMPRB), meaning that the official report published by the government of Canada will be far from a true reflection of the industry’s contribution to Canada.

Root of the problem?