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Parliamentary Secretary Mike Lake Champions Canada at BIO 2014, North America's Largest Biotechnology Conference

SAN DIEGO, CALIFORNIA -- (Marketwired) -- 06/24/14 -- Industry Canada

Mike Lake, Parliamentary Secretary to the Minister of Industry, today took part in the 2014 BIO International Convention, the world's largest gathering of delegates from biotechnology and pharmaceutical firms and scientific leaders. The Canadian delegation, well over 900 strong, included representatives from about 80 companies from all regions of the country.

During his remarks at the opening of the Canada Place pavilion, Parliamentary Secretary Lake promoted pharmaceutical investment in Canada. He highlighted the many competitive advantages of investing in Canada, including high-quality research capabilities and partnership opportunities, as well as the lowest debt-to-GDP ratio and business operating costs in the G7.

Parliamentary Secretary Lake will also take part in the BIOTECanada Gold Leaf Awards ceremony, which recognizes Canadian excellence in the life sciences.

Quick facts

--  Canada's life sciences industry contributed more than 65,000 jobs and
    $40 billion to Canada's economy in 2010.
--  The Canadian pharmaceutical sector has a range of players, including
    firms that have grown in Canada as well as global companies, involved in
    developing and manufacturing diagnostics tools, drugs and vaccines.
--  Canada is recognized around the world for its strength in health
    research and expertise in clinical trials. Our biopharmaceutical small
    and medium-sized enterprises make up one of the larger R&D product
    pipelines in the world. Canada also has comparative advantages in
    manufacturing, with emerging capabilities in specialty processes.
--  Canada's world-class health research institutions and research networks
    are integral partners in knowledge translation. Many global biotech
    players have significant investments in Canada as well as strategic
    partnerships with our researchers and companies.
--  Through Economic Action Plan 2013, the $200-million Advanced
    Manufacturing Fund was created to encourage the establishment of
    innovative, first-in-class facilities in Canada. This will apply
    significantly to the life sciences.
--  Canada's economy is widely recognized as one of the world's strongest.
    For the past decade, Canada has led the G7 in economic growth. For the
    sixth consecutive year, the World Economic Forum has declared our
    banking system the soundest in the world.
--  The government is making renewed investments in many national Centres of
    Excellence (such as the Centre for Drug Research and Development in
    Vancouver and the Quebec Consortium for Drug Discovery in Montreal) and
    providing support for a new research-industry partnership program at
    Genome Canada. These programs help turn our incredible innovative
    capacity into medicines benefiting patients.

Quote

"Our government's top priority is creating jobs and economic growth. Investment in Canada's innovative life sciences network is an important part of that plan. The competition for countries to lead the bioeconomy is intense. That's why we have worked to position Canada as the best place in the world to do business. In my discussions with firms at the BIO International Convention, it became clear that we have a remarkable opportunity in Canada to attract investments and leverage our strengths in science, innovation and manufacturing. We have many competitive advantages, including a highly educated workforce, acknowledged strengths in scientific research and a sound business environment. Our companies are primed for success and competing globally."

- Mike Lake, Parliamentary Secretary to the Minister of Industry

Associated link

- Life Science Industries page on the Industry Canada site

Follow us on Twitter: @industrycanada

Contacts:
Jake Enwright
Press Secretary
Office of the Minister of Industry
613-995-9001

Media Relations
Industry Canada
613-943-2502
[email protected]

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