Thomas Mullie, Anderson Chuck
The life sciences industry, and specifically the pharmaceutical sub-sector, is a major funder of private sector research and development. Canada's life sciences industry reinvests less of its revenues in research and development (R&D) activities than those in peer countries, which hinders innovation, creates supply risks and contributes to Canada's poor productivity growth. Traditional approaches to incentivizing reinvestment, including tax incentives, direct funding and public research spending, have failed. As an alternative, transforming Canada's health data systems would enable faster and more comprehensive secondary use, making R&D investments safer and more productive. Our peers are already pursuing this strategy, meaning Canada risks being left behind unless we act.