Thank you very much, Madam Chair.
I would like to welcome all of our witnesses in every format they have joined us today. It was good to hear from you.
I am very interested in what you had to say, Dr. Gagnon. It sounded to me as though you were saying we are not getting the biggest bang for our buck when it comes to return on investment and how well the pharmaceutical industry is doing in comparison with the innovation that we may not be seeing and the need to transform therapeutic innovation.
We've heard often throughout this study that there are barriers to innovation. I am wondering if any of you can identify for me what you see as some of the barriers, whether they have to do with intellectual property—where the research is done and who owns the intellectual property—or whether they have to do with regulatory restrictions.
Would any one of you like to answer that question for me?