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Canada is a significant and growing player in the global biotech industry.

Ernst & Young reports that in 2006, 82 Canadian publicly traded biotech firms accounted for US$3.2 billion1 in revenue, representing an increase of 25% over 2005 and accounting for 4.4% of global biotech revenues. R&D expenditures by these public companies amounted to US$885 million, representing more than 3% of global biotech R&D expenditures. Including Canada’s 465 private firms, Canada is home to nearly 11% of the world’s biotech companies.
PricewaterhouseCoopers has recently identified Canada as having the highest rate of increase among G7 countries in terms of biotech R&D workers, number of external patent applications, and business expenditures on R&D.

The majority of Canadian biotech firms on human health products and applications, but agricultural and environmental/industrial segments are also significant. Canada is home to many firms that are active in the application and commercialization of innovative biotech.