british columbia - biotech sector - presented by bhanu rahoni - sector manager (india)
DESCRIPTION
British Columbia is home to one of the largest Biotech clusters in North America and has maximum concentration of Biotech Cos as compared to any other province in Canada. Vancouver is the most vibrant and biggest city of BC and is a hub of Biotech in BC. British Columbia provides a proper mix of Quality of Life (Vancouver rated as 4th ranked city by Mercer's rating 2010 in "Quality of Living" rankings) and Quality workTRANSCRIPT
British Columbia, Canada
Your Gateway to North American business opportunities
Presented by:
Bhanu Rahoni
Sector Manager - BiotechnologyTechnology, Research & Innovation,British Columbia Trade & Investment Representative Office (Bangalore)
Gateway to North America
BC
AAA
AB
AAA SK
AA+
MB
AA ON
AA
QC
A+
NL A
PEI A
NS A+
NB AA-
Canada Overall AAA
Source: Standard & Poor's,
Provincial Credit Rating (Standard & Poor’s)
% change against Indian Rupee
OANDA bid rates, Economic Times Intelligence Unit.
Number of Immigrants to BC by Source2003-2007
50,593
2,659
2,774
6,819
7,185
8,980
9,679
12,334
17,604
25,653
53,726
0 10,000 20,000 30,000 40,000 50,000 60,000
Others
Japan
Pakistan
Iran
England
Taiwan
United States
South Korea
Philippines
India
China
Indian community in British Columbia
Reduced Taxes for Investment & Talent
B.C. residents pay the lowest provincial personal income tax in Canada for incomes up to $118,000
British Columbia’s provincial corporate income tax is currently 10.5 % (10 % in 2011). The federal corporate tax rate is 16.1 % (15 %by 2012). With IFC tax refund, total corporate income tax is now 16.1 % & will become 15 % from 2012: Lowest in G7
B.C. taxes businesses at a rate of 2.5 % on their first $500,000 of business income. Government intends to eliminate the small business income tax by April 1, 2012.
British Columbia’s combined federal and provincial corporate tax rate is lower than any jurisdiction in North America.
Personal tax rates are similarly competitive.
Biomedical R&D
Medical Devices
Vancouver, British Columbia **0.0% 21.7%
San Diego, California 35.0% 39.5%
San Jose, California 35.0% 41.4%
Seattle, Washington 35.1% 34.0%
*Income taxes, net of available tax credits, as a share of pre-tax income**R&D tax credits eliminate all income tax liabilities
Source: KPMG Competitive Alternatives Cost Model; Ministry of Small Business, Technology and Economic Development, 2009.
Effective Corporate Income Tax Rates in BioTech
Rank City CityCost Index
(Vancouver -100)
Effective Income Tax
rate
1 Vancouver 100 16.1%
2 Toronto 116 30.2%
3 Shanghai 127 25.0%
4 Chicago 128 35.0%
5San
Francisco 129 35.0%
6 New York 132 35.3%
2010 Mercer rating again places Vancouver at 4th place in “Quality of Living Survey”
Quality of Living: Mercer’s survey of 221 Cities
City Ranking
Vienna 1
Zurich 2
Geneva 3
Vancouver 4
World Cost of Living, 2009, Rank and Index: New York = 100)
Vancouver ranks 71Out of 143 cities in Mercer’s ranking
Rank 2009
Rank 2008 City Country
Score 2009
Score 2008
1 2 Tokyo Japan 143.7 127
2 11 Osaka Japan 119.2 110
3 1 Moscow Russia 115.4 142.4
4 8 Geneva Switzerland 109.2 115.8
5 6 Hong Kong Hong Kong 108.7 117.6
6 9 Zurich Switzerland 105.2 112.7
7 7 Copenhagen Denmark 105 117.2
8 22New York City USA 100 100
9 20 Beijing China 99.6 101.9
10 13 Singapore Singapore 98 111.3
Life Sciences in British Columbia is
Very DiverseForest Biotech
Agricultural Biotech
Marine BiotechBiopharma & DevicesIndustrial Biotech
BioProducts and BioEnergy
World-Class Research is the Basis of our Industry
Most commercially successful cluster in Canada Approx. 100 companies in virtually all therapeutic areas Particular strengths in:
Oncology Genomics Infectious diseases Neuroscience Regenerative medicine HIV/AIDS Cardiology Metabolic diseases Personalized medicine
Biopharmaceuticals = BC’s Most Established Life Sciences Sector
Biotechnology company concentration by regionRegion PercentageAlberta 8%British Columbia 30%Manitoba 2%New Brunswick 2%Newfoundland 1%Nova Scotia 4%Ontario 26%PEI 3%Quebec 20%Saskatchewan 4% *Source: Statistics for Canada, Canadian Lifesciences Database. Online source. (Last accessed January 2010
Link: http://www.biotech.ca/en/what-biotech-is/facts-figures.aspx
Maximum concentration in British Columbia
To name a few innovations from BC:
QLT’s “Visudyne” One of the most successful ophthalmology products ever
2005 worldwide sales topping $480M US.
Angiotech’s Coronary Stent
2005 sales of TAXUS totaled $2.69B US
• Ranked 9th in N.A. by The Scientist for generating high-quality, patentable scientific research – number one in Canada.
• Ranked 8th in N.A., by the Milken Institute and number one in Canada for its tech transfer and commercialization activities.
“Patent Powerhouse”
Selected BC Centers of Excellence in Health Research
• BC Cancer Agency• Genome Sciences Centre• Brain Research Centre, UBC• Prostate Centre, VGH• Blood Research Centre, UBC• HIV/AIDS Centre of Excellence, St. Paul’s• Centre for Molecular Medicine & Therapeutics• Providence Heart & Lung Institute, St. Paul’s• iCord Spinal Chord Research Centre• Centre for Drug Research and Development
• TRIUMF: Canada's National Laboratory for Particle and Nuclear Physics & Medicine
BC Company Partner Product
Angiotech Boston Scientific Taxus Stent
QLT Novartis Visudyne
Nexterra GE Energy Gasification Systems
Xenon Takeda Pain Product
Cardiome Astellas/MERCK Vernakalant
Aspreva Roche Cellcept
Xenon Novartis Obesity & Metabolic Disorders
Response Biomedical 3M Infectious Disease Tests
BC attracted top global partners
Explore Business Opportunities with British Columbia
CONTACT:
BC TIR office
#600/1, ‘Akshaya’ First Floor100 Feet Road, IndiranagarBangalore, India
+91 80 4116 1216+91 96861 91723