The real perils of biotech
The public discussion about genetically modified organisms (GMOs) almost invariably focuses on bitter disputes about the safety of GMO crops. While many argue that the technology poses threats to natural systems and to human health, most research suggests that this is not the case. Still, peer-reviewed studies fall on both sides of the question. Given the […]
‘The conditions are ripe’: industry says it’s time for feds to consider a national bioeconomy strategy
With Canada’s biotechnology sector showing signs of new growth, industry advocates say it’s time the federal government consider a national biotech strategy, more than a decade after one created in 1998 was nixed by the Conservative government. In January 2018, the Public Policy Forum released a report recommending the creation of a national life sciences […]
If government strategy isn’t coherent, it’s a complete waste of money
When it comes to science and technology, government involvement is key. Let’s take the pharmaceutical industry as an example. From 1969 to 1987, the mandatory licensing regime offered little patent protection, driving up the production of generics in Ontario. Ontario was pleased with this policy that provided little innovation but ensured a high economic turnout. […]
Too much tax hurts tech sector
Canada is on the cusp of the Fourth Industrial Revolution with the emergence of the biotechnology industry. This revolution, where digital processes and artificial intelligence (AI) are changing the way products are made, is also coming at a time when Canada is experiencing a brain drain in our tech sector. A study published earlier this […]
Biotechnology
Biotech industry is a pillar of growth for Canada
As our economy continues to evolve against a backdrop of rapid technological change and increased global competition, the Canadian biotech industry remains a pillar of growth for this country. It is responsible for more than 20,000 high-quality jobs and contributes more than $6-billion to the economy, while filling the role of innovation leader and destination […]
Proposed price cap regulations will impact Canadian R&D, says big pharma, but academic not convinced
Brand name drug companies are warning the government to think through its proposed regulations for the Patented Medicines Prices Review Board, saying it could curb investment in Canadian research and development. However, one University of British Columbia academic is calling the claims “rhetoric.” The Patented Medicines Prices Review Board (PMPRB), founded in 1987, is a […]
How reworking NAFTA will affect intellectual property in Canada
Whatever changes made to intellectual property policy through the ongoing reworking of NAFTA will certainly affect biotechnology companies. Some Canadian analysts say Canada should take an offensive approach to the IP chapter because it already complies with global standards. The third round of North American Free Trade Agreement renegotiations is set to take place in […]
With key tax credit under microscope, biotech firms say it should stay, be improved
As the federal government starts reviewing a tax credit key to the biotechnology sector, some industry representatives say they’re happy with it but would like to see its eligibility expanded, whereas others think documentation standards are too high. The Scientific Research and Experimental Development (SR&ED, pronounced “shred”) program allows companies in Canada to get a […]
How government can spark venture capital for biotech success
As the government looks to shape its venture capital policy, biotechnology industry representatives say it’s important to minimize direct government intervention, instead letting the private sector decide what companies to invest in. The Venture Capital Catalyst Initiative (VCCI), as announced in the 2017 budget, is set to provide $400-million to help ease the way for […]
