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Total pharmaceutical sales in Canada came to about ** billion U.S. dollars in 2023. Of this, U.S.-based diversified health company Johnson & Johnson generated over **** billion dollars. Thus, J&J held the largest single market share, with nearly ** percent. With a significant distance, Danish company Novo Nordisk was ranked second, generating revenues of around *** billion Canadian dollars.

Canada in a global context

Canada’s pharmaceutical market is among the global top 10 national markets. The market share stands at around *** percent of the total global pharmaceutical market. In a large part, the Canadian market is dominated by the big pharma companies from the U.S. and Europe. Among the most important Canada-based companies are Apotex and Bausch Health (ex-Valeant Pharmaceuticals).

Economic importance

The drug manufacturing industry is mostly centered in the metropolitan areas of Toronto, Montreal, and Vancouver, and employs over ** thousand people. As in many other countries, the pharmaceutical sector is one of the most innovative industries in Canada, spending around one billion Canadian dollars on research and development every year.