The new Québec Biopharmaceutical Strategy will enable Québec 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 Québec will ensure that it contends with international competition by offering companies one of North America’s most favourable business environments as regards to their future development. The Québec government will earmark $122.77 million over the next three years for the Québec biopharmaceutical industry.
“We want Québec 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.[…],” stated Clément Gignac, Minister of Economic Development, Innovation and Export Trade, during a news conference.
The Québec Biopharmaceutical Strategy centers on five areas of intervention: emphasize development and spinoff from research; support the development of biotechnology firms; support the development of pharmaceutical firms; ensure maintaining manpower to satisfy the industry’s needs, among other things by attracting outstanding foreign researchers and experts; and finally, promote Québec’s image in the biopharmaceutical sector worldwide, in particular by publicizing Québec as an ideal hub that is favourable to firms and investments in the biopharmaceutical industry.
The Québec biopharmaceutical industry has enjoyed remarkable growth over the past 15 years and continues to expand. The Québec biopharmaceutical sector is comprised of 145 companies, and accounts for 21 000 jobs.
Québec Biopharmaceutical Strategy