SR&ED in the Pharmaceutical Industry
The pharmaceutical industry in Canada is increasing annually – from 2001 to 2010, the GDP in this industry rose by $600 million, making Canada's pharmaceutical market the eighth largest in the world. Globally, the market is only growing at 6.4%, but the growth rate in Canada is beginning to slow as many products are losing their patent protection – this has led to a more favourable outlook on generic drugs (as opposed to branded drugs) in Canada.
In order to continue competing globally, there is a need to constantly develop and improve drugs, which may lead to many instances where there are technological obstacles that you run into – areas where you need to do some testing and experimentation to overcome these obstacles and get the results you wanted. These instances are where the Scientific Research & Experimental Development (SR&ED) program comes in to assist you with the recovery of money that has been spent on testing and experimentation.
During drug discovery, challenges include the identification of an organic compound that could inhibit or activate a biochemical reaction and its organic synthesis in order to achieve an acceptable yield with little or no side products (this is mostly carried out by universities and research facilities but could be partially funded through grants from private pharmaceutical industries). During drug development, the greatest challenge is formulation (including other non-medicinal ingredients with the active ingredient) in order to achieve the desired half life, the metabolism of the drug at the desired active site and the prolongation of the drug effect.
You May Be Eligible If:
- You have experienced issues with the synthesis of a compound
- A drug compound has been identified to have adverse effects during pre-clinical studies or clinical trials
- You have experienced issues while attempting to improve drug stability
- You have conducted experiments to improve drug affinity
To see how the experts at NorthBridge can help you with your SR&ED claim, contact us for a free consultation.