Mr. Chair, not unlike members of this committee, our industry employees are proud Canadians who are responsible for promoting and advocating Canada's interests abroad.
We are the ambassadors of Canada in all our companies abroad.
We are passionate that Canada has many key advantages that allow us to successfully attract global investments in research and development.
Despite these benefits, intellectual property remains the cornerstone of our industry. It is a key factor in global investment decisions, as it reflects the importance attached to the protection of new discoveries.
The IP gap that Russell highlighted is the most pressing policy challenge for our industry when Canadian affiliates compete internally for global investment dollars. At Roche, Canada's IP system is noted and questioned by our global leaders. Other nations, both developed and developing, can also boast of their business climates and top-flight scientific talents. In a fiercely competitive environment, Canada must keep pace.
Five years ago, the federal government improved pharmaceutical data protection. These changes are just now showing results. For Roche Canada, it was an important factor to attract a $200 million global pharmaceutical development hub that will expand our Canadian facility and create 200 high-skilled jobs in Canada. With improved IP, our entire industry would have the tools to help maintain and draw even more opportunities like this one.