Let me say first of all that Canada is seen as a very attractive country, so companies want to invest here. We have a good health care system. We have excellent researchers. We have good institutions. We have diverse populations with clinical trials. We are an attractive place.
The CEOs of our member companies spend a lot of their time competing, if you will, and trying to bring investment dollars into this country. We can show you studies done by Ernst and Young that have evidence that 10% of the revenue does go into R and D in this country. That being said, we can do so much more. I think COVID-19.... I hate to look at it as an opportunity for anything, but it is a chance to recalibrate how we're doing business in this country. We need a very supportive regulatory environment. We are out of balance right now. I don't want to harp on that issue—I will if given the opportunity—but we need to balance that out.
We need to address a system that has been constructive in pieces and is very slow to bring products to market. It will take Canada over 900 days to bring an innovative product from initial approval into patients' hands. The OECD medium is down around 500 days, and I can cite many countries that are in the 300-day range. We are out of step. To the government's credit, Health Canada is working on changing this, but we are very far behind. We need to have that faster time to list.
Those are a couple of the key issues. There are others that I could cite, but in the interest of time, perhaps those are the two most important.