How significant is Canada in Novartis' global strategy, and can you elaborate on your commitments there?
Canada is a top 10 country for Novartis, emphasizing our dedication to the Canadian healthcare sector, including tech, physicians, hospitals, and governmental agencies across federal and provincial levels. Our goal is to foster collaboration within the entire healthcare ecosystem, underlining the market's key role in our strategy. With approximately 170 clinical trials ongoing annually and a longstanding presence set to continue, Canada's vibrant and growing environment, particularly its innovation hubs in cities like Toronto and Montreal, aligns with our commitment to the country and its patients. The business-friendly climate and overall welcoming nature further solidify our intention to maintain our footprint in Canada.
What challenges does Novartis face in Canada, especially in terms of medication approval and access?
In Canada, the healthcare delivery system introduces certain complexities, particularly for the pharmaceutical and biotech industries. Despite a universal healthcare system, a multi-layered bureaucracy affects the speed at which medications become available to patients. After Health Canada's approval, drugs undergo several assessments and negotiations with various bureaucratic levels before reaching patients, often resulting in a two- to three-year delay compared to other Western countries. This delay not only impacts patient access to new treatments but also highlights Canada's slower pace in embracing healthcare innovations. Nevertheless, we're actively engaging with healthcare leaders and government officials to streamline these processes.
Considering the strong biotech and university research sectors in Canada, how does the bureaucratic system impact innovation?
There's a noticeable tension between the nurturing of biotech innovation and the bureaucratic barriers to healthcare innovation.
This dichotomy is evident in discussions with healthcare and technology ministers who recognize the need for improvement but face challenges integrating new therapies into the healthcare budget and existing frameworks. For example, in Alberta, there is currently no budgetary pathway for radiopharmaceuticals. This is one example of how new therapeutic areas are facing challenges in aligning innovation with patient access.
Despite these obstacles, there's a collective desire among provincial leaders and the healthcare community to find solutions, showcasing a commitment to overcoming the hurdles that currently limit innovation's reach to patients.
Can Novartis act as a catalyst to resolve these tensions between innovation and bureaucracy in Canada?
Novartis plays a pivotal role in bridging the gap between innovative healthcare solutions and bureaucratic challenges, emphasizing accountability and leadership in facing these issues. Through initiatives like our ongoing work with Innodem Neurosciences, we exemplify how collaboration and pushing the boundaries of innovation can help to accelerate the path towards a reliable, non-invasive marker of disease progression in multiple sclerosis and modernize the approach to care in this area. Our efforts in neuroscience, immunology, oncology, and cardiovascular medicine highlight our commitment to enhancing healthcare delivery and patient outcomes, showcasing our potential to drive change and improve efficiency within Canada's healthcare landscape.
What excites you about Novartis' current projects, particularly in technology and innovation?
Our work in therapeutic areas such as theragnostic in nuclear medicine and radioligand therapy stands out for its potential to revolutionize cancer treatment by targeting tumors with high precision while minimizing damage to healthy tissues. By enabling earlier detection, accurate diagnosis, and targeted treatment, radiopharmacy can contribute to improving patients' quality of life by reducing symptoms, managing disease progression, and minimizing treatment-related side effects.
Similarly, advancements in small interfering RNA technology demonstrate our ability to significantly impact metabolic processes and reduce the risk of cardiovascular disease with minimal intervention. These innovations reflect our dedication to addressing unmet clinical needs and improving patient lifestyles, underlining the transformative potential of our research and development efforts.
Looking ahead, what is your vision for Novartis' future and its role in the global healthcare landscape?
The ideal future for Novartis involves leveraging our scale and expertise to integrate cutting-edge innovations into global healthcare systems efficiently. By partnering with a wide range of system stakeholders, such as federal and provincial health authorities, external tech partners, health care providers, clinical system leaders and new health start-ups, we aim to navigate the complexities of healthcare delivery, from clinical research to global distribution and integration into clinical practice. This approach enables us to support not just the development of innovative therapies but also their adoption by health systems and practitioners worldwide, ensuring that patients globally can benefit from breakthrough treatments and improved healthcare outcomes.
