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Johnson & Johnson applauds the Federal Budget 2017

Posted on April 7, 2017

J&J is one of the major companies in Don Valley East. Here is J&J’s press release on Budget 2017:

Budget 2017: Recognizing the Health/Bio-Sciences Industry’s Potential for Innovative Growth
The Johnson & Johnson Family of Companies (J&J) believes the life sciences should be central to Canada’s 21st century innovation strategy. We applaud the Federal Government for recognizing the health/bio-sciences sector for its great potential to accelerate economic growth in Budget 2017’s Innovation and Skills Plan.

Canada’s life sciences innovators have novel ideas and innovations with great economic potential which can be unlocked by accelerating their work in a dedicated life sciences supercluster and developing a supportive and effective strategy for the health/bio-sciences sector through the newly-announced Economic Strategy Tables.

J&J also looks forward to working with government and engaging in meaningful and constructive dialogue about how the innovative life sciences sector can continue to contribute to the affordability and sustainability of our healthcare system for all Canadians.

For the sector to reach its full potential, we encourage government leadership to ensure the full health/bio-sciences ecosystem is supported from start-up innovators to commercialization. While the focus on superclusters and strategy are positive steps, achieving global leadership in the life sciences sector challenges Canada to have aligned and supportive policies through the ministries of health, innovation, economic development, finance, science and technology.

Our ability to invest in innovation in Canada is directly related to a supportive policy environment across these portfolios for the life sciences sector. Johnson & Johnson is committed to the Canadian research community and our actions underscore this sentiment. Since 2014, we have committed more than $1 billion to a number of initiatives that contribute to and attract global life sciences investments to Canada.

Our February 2017 investment in Fusion Pharmaceuticals, a newly formed biopharmaceutical company developing targeted alpha-particle radiotherapeutics for treating cancer, is a testament to this commitment to invest in Canada.

Johnson & Johnson Innovation – JJDC, Inc. (JJDC) is the lead investor in Fusion, a spinout from the Centre for Probe Development and Commercialization (CPDC) and is a Centre of Excellence for Commercialization and Research (CECR) located at McMaster University in Hamilton. This funding will support and accelerate clinical development of Fusion’s lead program and enable Fusion to build its product pipeline.

This is just the latest example of Johnson & Johnson actively investing in the potential it sees in Canada’s life sciences sector. With Budget 2017, we share the government’s vision of the great potential of the health/bio-sciences industry to accelerate economic growth. J&J looks forward to collaborating with government and our partners throughout the health/bio-sciences ecosystem to ensure that our innovators are supported and enabled to achieve their full potential, and that we continue to accelerate economic growth in our country and improve the health and well-being of all Canadians.

Lesia M. Babiak
Executive Director, Worldwide Government Affairs & Policy (Canada)
   Chair, Government Affairs Council
Johnson & Johnson, Family of Companies in Canada