Statement - Implementation of CETA

OTTAWA, Sept. 21, 2017 /CNW/ - With regards to the provisional application of the Comprehensive and Economic Trade Agreement (CETA), Pamela Fralick, President, Innovative Medicines Canada issued the following statement:

"Innovative Medicines Canada welcomes the implementation of the Comprehensive and Economic Trade Agreement (CETA) between Canada and the European Union.

The Canadian life science sector will benefit from the improvements of Canada's intellectual property provisions that are now closer to the level of its major trading partners.  Improving our intellectual property regime is one essential component of allowing Canada's bio-sciences sector to continue to grow and provide high-quality jobs to Canadians, attracting investment in research and development and finding the next generation of medicines.

Canada has made a significant step to provide innovators with some compensation for delays in obtaining marketing approval for pharmaceuticals.  However, the regulations have also substantially changed Canada's patent linkage system in a manner not required by CETA, and these changes create additional commercial uncertainty for innovators.  Innovative Medicines Canada will continue to work with governments to support the Canadian life sciences environment and to develop solutions that achieve equitable and timely access to new medicines in Canada."

ABOUT INNOVATIVE MEDICINES CANADA

Innovative Medicines Canada is the national voice of Canada's innovative pharmaceutical industry. We advocate for policies that enable the discovery, development and commercialization of innovative medicines and vaccines that improve the lives of all Canadians. We support our members' commitment to being valued partners in the Canadian healthcare system.

SOURCE Innovative Medicines Canada