EDMONTON, Alberta--(BUSINESS WIRE)--The Alberta life sciences industry is showing positive signs within the sector, with the expectation of strong research and development spending, cash on hand remaining steady, and anticipated growth in employment, as outlined by a joint report being launched today by BioAlberta and Deloitte.
Jeremy Webster, National Biotechnology Leader at Deloitte, and Amanda Stadel, Acting President of BioAlberta, will present the findings in Edmonton on September 20th at Alberta Innovates – Technology Futures [250 Karl Clark Road] at 11:00 am, and in Calgary on September 27th at the Alistair Ross Technology Centre [3553 - 31 Street NW] at 11:00 am.
The report, resulting from a survey that was distributed to more than 200 life science companies in the spring of 2013, provides a review of the state of this industry in the province, examining revenue growth, research and development, human resources, and sources of funding and capital.
“With an aging population and issues around the increased prevalence of specific, chronic diseases, the life sciences industry has a major role to play, both provincially and globally, with regard to the development and commercialization of innovative technologies to address the issue of health care sustainability," said Amanda Stadel, Acting President of BioAlberta. "BioAlberta's biennial report, the first of which was launched in 2004, has become a valuable reference document for business leaders and government. The report outlines key drivers and issues that should be considered, as we pursue the vision of a thriving and competitive life sciences industry that fuels key sectors of Alberta's economy and beyond."
The industry survey, Life Sciences in Alberta: State of the Industry 2013, reports 60% of the study respondents are planning to increase their spending in 2013. The total revenue for respondent companies was an estimated $977.4 million for fiscal 2012, and they continue to be optimistic about their ability to raise capital in 2013. Industry respondents raised $137.4 million of capital in 2012, as compared to $131.7 million in 2010, an increase of over 4%. Alberta has a strong, diversified life sciences industry - the two largest sectors being Medical Technology and Devices and Health Biotechnology and Pharmaceuticals account for over 60% of the industry.
“Initiatives such as the Life sciences in Alberta: State of the Industry 2013 report are key to ensuring Alberta’s success in the life science sector globally,” says Jeremy Webster, National Biotechnology Leader at Deloitte. “Benchmarks and periodically measuring Alberta’s industry against the national and global industry are very important to understanding future opportunities for this Province.”
A copy of the report will be available on BioAlberta's and Deloitte's websites.
About BioAlberta
"A thriving and competitive life sciences industry that fuels key sectors of Alberta’s economy.”
BioAlberta is the central voice and organizing hub for the life sciences industry in Alberta. We are a private, not-for-profit industry association representing Alberta’s growing life sciences sectors. The association provides attentive, proactive and timely services and programs to over 140 members.
BioAlberta activities are focused in key strategic areas: Advocacy ~ Marketing & Networking ~ Industry Development.
For more information, please visit www.bioalberta.com.
About Deloitte’s Life Sciences practice
Deloitte professionals have experience working with life sciences companies across the country and globally to assess their strategic options, assist in forming, establishing and maintaining partnerships and alliances, develop commercialization strategies, enhance revenues, improve operating efficiencies, optimize asset utilization, strengthen management teams, provide due diligence and valuation support as part of a transaction, implement tax efficient structures, streamline the complexities related to industry auditing and accounting, mitigation of enterprise risk, and provide negotiation and advisory assistance.