I recently had the opportunity to speak to business and healthcare leaders at the Chamber of Commerce of Metropolitan Montreal about the rapid advances in pharmaceutical innovation and their potential to transform our approach to healthcare. During this talk, we explored how innovation and access to treatments can redefine our collective future. Yet, despite these advances, ensuring equitable access to new treatments remains a challenge.

I've had the privilege of witnessing remarkable advancements in patient care, especially in the field of oncology, over the past two decades. Our industry's relentless pursuit of innovative treatments has helped transform cancer from a death sentence to a manageable, chronic condition for many patients. However, the harsh reality is that Canadians often wait years longer than patients in other developed countries to access these life-changing therapies. This must change.

There are three key takeaways that capture the current state of oncology care in Canada and the immense promise of unlocking timely access to innovative treatments:

Canada lags behind its G7 and OECD peers in approving and providing timely access to new and innovative medicines and vaccines. From the time a medicine is approved by Health Canada, there is a lengthy process to assess the value of the drug and negotiate pricing and reimbursement, resulting in delays of up to two years before patients can access the latest advancements. This is unacceptable, especially for those facing deadly diseases like cancer. 

There is promising news in the province of Ontario, where the government is aiming to shorten this timeline for cancer drugs by at least nine months in a new pilot project. We applaud them for this action and hope that other provinces will follow their lead.  

Pfizer and other pharmaceutical manufacturers are at the forefront of disruptive innovation in oncology, pioneering groundbreaking therapies that have the potential to transform the lives of cancer patients. Nearly 40% of our entire R&D investment is dedicated to advancing transformative cancer treatments, from small molecule targeted therapies to next-generation biologics. This unwavering commitment has enabled us to develop innovative solutions across multiple cancer types, helping to offer hope to countless individuals and families.

Timely access to new, innovative cancer treatments can lead to better patient outcomes, including improved quality of life and reduced long-term healthcare costs. Early intervention and effective therapies can help patients manage their conditions more effectively, reducing the burden on the healthcare system and improving their overall well-being. Moreover, faster access to cancer treatments can enable patients and caregivers to remain active and productive members of the workforce, benefiting both individuals and the broader economy.

I have always believed that "health is wealth." Good health is the foundation for individual and community prosperity, and when Canadians have access to quality healthcare, they are better able to participate fully in society, contribute to the workforce, and reach their full potential. By unlocking the full potential of early detection and timely access to oncology treatments, we can transform the lives of cancer patients and their families, while also unlocking the economic and social benefits of improved population health across the country.

To achieve this vision, we must take a collaborative approach, with all stakeholders – industry, government, healthcare providers, and patients – working together to accelerate access to innovative medicines and improve healthcare outcomes. The time for action is now, and Pfizer stands ready to be a trusted partner in this endeavor, leveraging our scientific expertise, innovative capabilities, and collaborative spirit to shape the future of oncology in Canada.