Canada’s Source of R&D Intelligence
Toronto - June 25, 2003 - Twenty-four Quebec companies made Canada's Top 100 Corporate R&D Spenders List 2003, released today by Research Infosource Inc. Together these companies invested $2.1 billion in R&D activities in fiscal 2002, an increase of 7% from 2001.
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#3-Pratt & Whitney Canada - 3rd in 2001 #6-Bell Canada - 119th in 2001 #8-Bombardier Inc. - 16th in 2001B #10-Alcan Inc. - 8th in 2001 #14-Pfizer Canada Inc. - 13th in 2001 #19-Merck Frosst Canada Ltd. - 19th in 2001 #22-Tembec Inc. - 11th in 2001 #24-Hydro-Québec - 22nd in 2001 #31-BCE Emergis Inc. - 34th in 2001 #33-Aventis Pharma Inc. - 37th in 2001 #40-Hyperchip Inc. - new to the list #51-Novartis Pharmaceuticals Canada Inc. - 56th in 2001 |
#55-ConjuChem Inc. - 85th in 2001 #61-SR Telecom Inc. - 69th in 2001 #64-CMC Electronics Inc. - 59th in 2001 #66-EXFO Electro-Optical Engineering Inc. - 65th in 2001 #69-Theratechnologies Inc. - 104th in 2001 #71-AEterna Laboratories Inc. - 63rd in 2001 #83-SNC-Lavalin Group Inc. - 115th in 2001 #87-Rio Tinto Iron & Titanium Inc. - 100th in 2001 #88-CGI Group Inc.-113th - in 2001 #94-CryoCath Technologies Inc. - 110th in 2001 #96-Neurochem Inc. - 129th in 2001 #100-Axcan Pharma Inc. - 120th in 2001 |
Eight Quebec companies made Research Infosource's elite "$100 Million Club", reserved for firms that invested $100 million or more in R&D activities: Pratt & Whitney Canada, Bell Canada, Bombardier, Alcan, Pfizer Canada , Merck Frosst Canada, Tembec and Hydro-Québec.
Seven companies decreased their R&D spending from 2001 to 2002: Pratt & Whitney Canada , Alcan, Tembec, Hydro-Québec, CMC Electronics, EXFO Electro-Optical Engineering and AEterna Laboratories posted
Three Quebec companies are ranked among the top 10 research intensive (R&D expenditures as a percentage of revenue) companies: Theratechnologies, Neurochem and CryoCath Technologies.
"Québec companies are riding out the stormy economic climate", says Ron Freedman, CEO of Research Infosource Inc. "Increases in R&D investment are just slightly behind revenue growth."
Overall, Canada's Top R&D companies invested $10.9 billion on research and development activities in fiscal 2002, down 8.7% from last year's figure of $11.9 billion. A closer look at the numbers reveals a healthier picture. Nortel Networks' size and depressed results mask a positive underlying trend. With Nortel's figures included, total spending declined by 8.7%. Removing Nortel's results from the mix, R&D spending actually grew by 6.5% in 2002.
Looking at the regional breakdown, 50 of the Top 100 companies are headquartered in Ontario. Together they spent $7.7 billion on R&D in 2002, down 14.2% from last year. British Columbia's 16 firms posted $813.8 million in R&D expenditures, a jump of 13.1%. The Prairie provinces (9 Alberta and 1 Manitoba firm) invested $356.8 million, a slight 2.1% drop from 2001.
The complete Canada's Top 100 Corporate R&D Spenders List is available on the Research Infosource website, www.researchinfosource.com. An in-depth Corporate R&D Spenders Report 2003, based on over 600 companies, is slated for publication in July 2003. Research Infosource Inc., a division of The Impact Group, is Canada's source of R&D intelligence. Drawing from an extensive database, Research Infosource Inc. publishes Canada's Top 100 Corporate R&D Spenders List, Canada's Top 50 Research Universities List, and specialized reports.
Information: Ron Freedman, CEO, Research Infosource Inc. (416) 481-7070 ext. 31
Janet Sandor, Director of Communications (416) 481-7070 ext. 25