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Canadian Industrial Profile

Pharmaceutical Products

This industry profile provides a five-year forecast for Canada’s pharmaceutical products industry.

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Download the Winter 2019 Outlook

Published: April, 2019 (2 pages)

Highlights

Price Controls—The federal government intends to introduce changes to the regulatory guidelines used by the Patented Medicine Prices Review Board to lower drug prices. This could dampen investment in research, deterring the introduction of new drugs.

Canada–U.S.–Mexico Agreement (CUSMA)—CUSMA will strengthen intellectual property protection by increasing copyright durations and extending patent lifetimes on certain types of drugs. This should make production and R&D more lucrative, which could increase investment in intellectual property.

Demographic Trends—With a growing number of baby boomers approaching retirement, demand for pharmaceutical products will continue to grow faster than the overall economy.