Minister Clement Highlights Canada as Premier Destination for Life Science Investment and Research

CHICAGO, Illinois, May 5, 2010 — After attending the 2010 BIO International Convention, held in Chicago, from May 3–6, the Honourable Tony Clement, Minister of Industry, praised Canada’s biotechnology industry as an important part of Canada’s innovative economy.

“Canada continues to rank among the global leaders in the life sciences,” said Minister Clement. “We are creating an investment destination for global business through supportive economic policies — such as investments in research and development and tax reforms — that make our companies more competitive and our country more attractive to international investors and partnerships.”

The Minister of Industry participated in a national roundtable on biotechnology organized by BIOTECanada and met with the Honourable Kim John Carr, Australian Minister for Innovation, Industry, Science and Research. He met with the Board of Directors of Canada’s Research-Based Pharmaceutical Companies and key global decision makers from the pharmaceutical industry, including Novartis, Pfizer and Sanofi-aventis, with whom he discussed partnering and investment opportunities in Canadian firms. He also talked about the government’s strong commitment to innovation and the importance of their research and development investments in Canada. Minister Clement recognized the significance of the life science industries within the broader innovation sector.

“The life sciences sector is an important part of Canada’s innovative economy, and Canada’s Economic Action Plan continues to set the right conditions for growth and investments in the life sciences,” added Minister Clement. “Thanks to Canada’s investment climate, the pharmaceutical industry has made significant global investments in our science, applied research, clinical trials and manufacturing, and it has formed alliances with Canadian biotech companies and partnerships with Canadian universities.”

Minister Clement officially opened the Canada Pavilion, which featured more than 80 organizations showcasing Canada’s biotechnology industry, science and leadership, and he spoke before an audience of Canadian and international members of the life sciences community.

BIO is the largest global biotechnology conference and exhibition in the world. Canada once again had the greatest presence among delegates, with 750 attendees this year, including Canadian CEOs of biotechnology and pharmaceutical companies, leaders in Canada’s health research academic community, and government representatives from all levels.

For further information (media only), please contact:

Lynn Meahan
Press Secretary
Office of the Honourable Tony Clement
Minister of Industry
613-995-9001

Media Relations
Industry Canada
613-943-2502