Quebec Focuses on Innovation and Life Sciences
Laval, Quebec, March 26, 2025 – BIOQuébec acknowledges the Quebec government’s recognition of the life sciences and health technologies sector. The 2025–2026 budget, presented by Finance Minister Éric Girard, announces the renewal of the Quebec Life Sciences Strategy (QLSS) and emphasizes innovation and internationalization—key priorities for the association and its members.
The renewal of the QLSS demonstrates that the sector is a key driver of innovation and economic development in Quebec. However, the investment of $54 million over three years falls short of expectations. We hope this amount is transitional and tied to the current economic climate. Our sector deserves investment that reflects its significant impact on the health and economy of Quebec.
"Quebec has all the potential to strengthen its position as a leader in life sciences and health technologies. The renewal of the QLSS is an important step for our sector, and we look forward to continuing our collaboration with the government to further enhance it"
– affirme Benoît Larose, président-directeur général de BIOQuébec.
BIOQuébec has long advocated for an overhaul of R&D tax incentives. The association welcomes the announcement of a new tax support program for innovation that incorporates several of our recommendations. The new Research, Innovation, and Commercialization Tax Credit (RICTC) introduces several changes, including the expansion of eligible expenses and an adjustment to the exclusion threshold. BIOQuébec will work to raise awareness among its members regarding this new program.
BIOQuébec also looks forward to the launch of Quebec’s new International Policy (IP). This policy will secure the presence of economic positions within Quebec’s international delegations and will support the efforts of our companies abroad. The policy is clearly aligned with BIOQuébec’s priorities, which emphasize collaboration with counterpart associations around the world.
Mr. Larose adds:
"We are pleased that several of our recommendations regarding tax support for research and development have been heard. It is essential to maintain an environment that fosters innovation and investment to maximize benefits for patients, businesses, and Quebec’s economy."
Our association’s mission is to position Quebec as a major hub in the life sciences industry, to provide Quebecers with the benefits of research, innovation, and medicine, and to maximize the economic impact of our sector.
BIOQuébec’s full brief is available here.
https://www.businesswire.com/news/home/20250326615134/en/BIOQubecs-Response-to-the-Quebec-Government-Budget?utm_campaign=shareaholic&utm_medium=copy_link&utm_source=bookmark
BIOQuébec is a non-profit association fully funded by its members. It represents nearly 270 organizations active in Quebec’s life sciences and health technologies industry. Their activities include the discovery, development, manufacturing, and commercialization of drugs, vaccines, diagnostic tools, and medical technologies. BIOQuébec is the voice of the industry, promotes networking and economic development, and serves as a link between the private sector and key stakeholders.
Information
Jeannine Burkhard
Public Affairs Advisor
jburkhard@bioquebec.com
