HOW TO IMPROVE THE AUTONOMY AND RELIABILITY OF OUR CANADIAN SUPPLY CHAIN
The COVID-19 pandemic has exposed Canada's dependence on foreign countries in the pharmaceutical industry. With 73% of prescriptions filled in Canada being for generic products[1], it is now more important than ever to improve the reliability of the supply chain. Our proposed solution is clear: prioritize local purchasing to stabilize supplies and better address all types of public health emergencies.
Obtaining generic drugs from a local company allows for better volume guarantees and fewer production delays. In fact, with domestic manufacturing facilities operating at full capacity, it is possible to build up pharmaceutical reserves to respond faster to fluctuations in demand from pharmacies, reduce the environmental footprint of production and exceed industry standards in supply service levels.
As the largest generic drug manufacturer, founded by pharmacists and operated in Canada, Pharmascience has the scope, size, capacity and human resources to make an immediate and tangible contribution to improving pharmaceutical autonomy and reliability in Canada.
BY THE NUMBERS
In total, we manufacture and market more than 1,500 products from nearly 300 groups in 20 different dosage forms.
We dedicate more than 200 employees and annually invest an average of $40-$50 million in research and development. We also work with local academic institutions and hospitals to create innovative solutions that address the needs of today and tomorrow, and, on average, develop 15-20 new products each year in our domestic facilities. This makes us the only Canadian generic drug manufacturer among the top 100 corporate R&D spenders in the country.
We are proud of our more than 35-year history and have grown to be among the largest pharmaceutical manufacturers in the country.
MOVING FORWARD
The COVID-19 pandemic revealed the obvious need to improve the autonomy and reliability of Canada’s supply chain for the pharmaceutical industry.We are proud of the work we’ve done with our partners and customers to date and will continue to do as we develop solutions that improve supply chain accessibility, add greater flexibility to the process and further enhance product delivery.
For more insight into Pharmascience’s products as well as access to complimentary Professional Services tools that include continuing education, coaching for pharmacy teams and laboratory profitability services, please visit us at Pharmascience.com
[1] CPGA Canadian market facts, 2020 - https://canadiangenerics.ca/get-the-facts/canadian-market-facts/#info