An Analysis of the Canadian Pharmaceutical Industry: A Verification of the Self-Reported Deficiencies by Industry Stakeholders and Federal Government Policy Proposals to Rectify these Shortcomings.

Abstract

The pharmaceutical industry in Canada is significant in terms of revenue, market capitalization, employment, and innovation, making it an important sector for economic growth. In a recent survey of industry stakeholders, three major industry deficiencies were listed: the ability to find sufficient capital financing, the need for strategic alliances between varying kinds of pharmaceutical companies, and weaknesses in the labour market. The follow analysis explores the background of each deficiency, analyses why it is a problem and what is the preferred outcome from a public policy perspective, and prescribes solutions from the federal-level of government to deal with the problems.