Toronto, October 18, 2024 – The following is a statement from Jim Keon, President of the Canadian Generic Pharmaceutical Association (CGPA) and its Biosimilars Canada division, on the Ontario government’s $146-million investment in the next phase of the Life Sciences Strategy:
“The CGPA and its Biosimilars Canada division welcome the Ontario government’s announcement of a $146 million investment in the next phase of its Life Sciences Strategy to help position the province as a global leader in life sciences.
Our industry appreciates the Ontario government’s clear commitment to the Life Sciences Sector. CGPA and its member companies look forward to continuing our work with the government to bring even more jobs and investments to the province.
As the national association representing Canada’s generic pharmaceutical industry and a proud member of Ontario’s Life Sciences Council, the industry plays a key role in Ontario’s health-care system and economy.
Ontario is the home of Canada’s generic pharmaceutical industry and the majority of its domestic jobs, investments and manufacturing capacity. Thirteen of CGPA’s 18 member companies have their Canadian operations headquartered in Ontario and employ more than 5,500 Ontarians in good paying jobs that support local communities. Member companies of CGPA are a key strategic asset to Ontario and Canada and operate research, development, production, packaging, warehousing, distribution and other facilities across Ontario, including in Brampton, Brantford, Burlington, Etobicoke, Markham, Mississauga, Oakville, Ottawa, Richmond Hill, Scarborough, Stouffville, Toronto and Weston.
Through manufacturing facilities here in Ontario, the rest of Canada, and the global supply chain, generic pharmaceutical companies produce and deliver 75 percent of the prescription medicines dispensed in community pharmacies and used in hospitals and medical clinics in Ontario, but account for only 19.8 percent of the $17.8-billion Ontarians spend annually on prescription medicines. As these data illustrate, generic pharmaceuticals, and their continued introduction in the Canadian market, are key to the ongoing sustainability of prescription drug benefit plans.
Members of our Biosimilars Canada division are at the forefront of the global development and marketing of biosimilar medicines. As Deputy Premier and Health Minister Sylvia Jones noted when announcing Ontario’s biosimilar switching policy in December 2022, biosimilar medicines allow patients to continue receiving the same high-quality treatment, while allowing the government to fund more new drug therapies and bring innovation to the health-care system.”