A majority of pharmaceutical executives in Canada say new regulations designed to cut prescription drug spending by the Canadian government are delaying product launches and R&D investment and will subsequently hurt employment, according to a new survey sponsored by an industry trade group.
Specifically, 94% of 43 executives queried project product launches will be delayed by a year or more, and 35% indicated delays already occurred. Meanwhile, 90% maintained the pricing reforms will hurt R&D, and one-third of the executives indicated staffing was already effected, but a specific number of job losses were not mentioned in the survey issued by Life Sciences Ontario.
Unlock this article by subscribing to STAT+ and enjoy your first 30 days free!
GET STARTEDWhat is it?
STAT+ is STAT's premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.
What's included?
- Daily reporting and analysis
- The most comprehensive industry coverage from a powerhouse team of reporters
- Subscriber-only newsletters
- Daily newsletters to brief you on the most important industry news of the day
- STAT+ Conversations
- Weekly opportunities to engage with our reporters and leading industry experts in live video conversations
- Exclusive industry events
- Premium access to subscriber-only networking events around the country
- The best reporters in the industry
- The most trusted and well-connected newsroom in the health care industry
- And much more
- Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr.
About the Author Reprints
