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14 British Columbia Firms Make Canada's Top 100 Corporate R&D Spenders List 2005
Toronto - October 18, 2005 - Fourteen British Columbia-based companies made Canada's Top 100 Corporate R&D Spenders List 2005 released today by Research Infosource Inc. Together these companies accounted for $794 million in research and development (R&D) spending in Fiscal 2004, an increase of 6.1% from $748.2 million in Fiscal 2003. Over the same period, revenue rose by 9.8% from $9.5 billion in Fiscal 2003 to $10.5 billion in Fiscal 2004.
"BC companies showed a healthy increase in R&D spending, reflecting a strong economy", said Ron Freedman, CEO of Research Infosource Inc.
#15 - Creo Inc. a $100 Million Club member slipped two spots to move from 13th last year to 15th place this year. This BC-based company reported a decrease of R&D spending of -4.5% from $144.8 million in Fiscal 2003 to $138.3 million in Fiscal 2004, while revenue rose 2.1% from $810.1 million in 2003 to $827.5 million in 2004.
#17 - Ballard Power Systems Inc. also a $100 Million Club member dropped 5 places to 17th from 12th place last year with a decrease of -18.0% in R&D spending between 2003 and 2004. Revenue also fell by -36.8%.
#23 - PMC Sierra, Ltd. fell 1 spot this year from the #22 rank last year. This company's R&D investment of $96.3 million fell -2.8% from last year, while revenue increased 23.7% to $212 million in Fiscal 2004.
#32 - QLT Inc. held its place with a jump of 23.6% in R&D spending to $77.7 million in Fiscal 2004. Revenue also increased by 17.7%.
#38 - TELUS Corporation moved up 3 spots this year by increasing it R&D spending by 19.4% to $56.7 million from $47.5 million in Fiscal 2003.
#46 - ID Biomedical Corporation leaped forward 10 spots propelled by a huge increase in revenue of 684.6% that contributed to a 53.8% increase in R&D spending - bringing their total R&D investment to $48.5 million in Fiscal 2004.
#48 - MacDonald, Dettwiler and Associates Ltd. lost ground this year falling 3 spots. Their R&D spending fell by -4.1% to $43.3 million while achieving a 19.9% increase in revenue over the same period.
#51 - Cardiome Pharma Corp. climbed 37 places from 88th position last year. It was one of the Top 10 Gainers this year with an increase in R&D expenditures of 127.7% to $38.7 million while also increasing its revenue by 336.6% to $26.4 million in Fiscal 2004.
#55 - Sierra Wireless, Inc. also moved forward this year from 68th place last year to #55 this year with a very healthy 63.1% increase in R&D spending to $37.7 million. The company also posted a large revenue increase over this period of 92.8% bringing their revenue to $274.9 million in 2004.
#57 - Angiotech Pharmaceuticals, Inc. another Top Gainer company moved up 20 spots this year with $35.3 million in R&D spending, an increase of 67.9%. Revenue at this company increased 512.3% to $170.2 million.
#59 - Westport Innovations Inc. dropped 15 places this year from 44th place last year. Their R&D spending of $34.1 million fell -24.7% from last year, while still increasing their revenue 31.6% to $32.4 million.
#70 - Inex Pharmaceuticals Corporation also fell 12 spots from #58 last year because of a -12.4% decrease in R&D spending, bringing its spending to $27.2 million in Fiscal 2004. Revenue at this company had a huge increase of 312.9% between 2003 and 2004.
#75 - Stressgen Biotechnologies Corporation moved up 5 places this year with $25.9 million in R&D expenditures, increasing its spending by 24.2% while revenue fell by -94.8%.
100 - Xantrex Technology Inc. moved onto the Top 100 List this year with a jump of 8 spots. Their R&D spending increased by 10.7% to $14.9 million in Fiscal 2004.
Following two years of decline, signs are that corporate spending on research and development (R&D) began to recover in Fiscal 2004. Canada's top corporate R&D companies invested $11.3 billion in R&D activities in Fiscal 2004, an increase of 3.0% over Fiscal 2003. This rebound comes after a two-year downturn in R&D spending. In Fiscal 2004, 62 of the Top 100 companies increased their R&D expenditures. In Fiscal 2003, less than half (45 firms) increased their R&D investment.
Regionally, the 43 companies headquartered in Ontario accounted for just over half (55%) of all R&D spending with $6.2 billion. This represented a very slight decrease from 2003 (-0.3%). Quebec's 31 companies spent $3.86 billion in Fiscal 2004, up 5.2% over 2003. This represented 34% of total R&D expenditures. The 14 British Columbia-based firms invested $794 million, an increase of 6.1% and which represented 7% of the total. The 9 Alberta firms accounted for $389.6 million or 3% of Top 100 spending and posted the largest regional increase of 33.1% over 2003. Removing Nortel Networks from the Ontario calculations, 42 companies invested $3.6 billion, 42% of the total, an increase of 5.1%.
The complete Canada's Top 100 Corporate R&D Spenders List 2005 is available on the Research Infosource website, www.researchinfosource.com. An in-depth Canada's Top Corporate R&D Spenders Report 2005, based on over 650 companies, is slated for publication later this year. 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.
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Information: Ron Freedman, CEO, Research Infosource Inc. (416) 481-7070 ext. 31
Janet Sandor, Director of Communications (416) 481-7070 ext. 25
Toronto - October 18, 2005 - Fourteen British Columbia-based companies made Canada's Top 100 Corporate R&D Spenders List 2005 released today by Research Infosource Inc. Together these companies accounted for $794 million in research and development (R&D) spending in Fiscal 2004, an increase of 6.1% from $748.2 million in Fiscal 2003. Over the same period, revenue rose by 9.8% from $9.5 billion in Fiscal 2003 to $10.5 billion in Fiscal 2004.
"BC companies showed a healthy increase in R&D spending, reflecting a strong economy", said Ron Freedman, CEO of Research Infosource Inc.
#15 - Creo Inc. a $100 Million Club member slipped two spots to move from 13th last year to 15th place this year. This BC-based company reported a decrease of R&D spending of -4.5% from $144.8 million in Fiscal 2003 to $138.3 million in Fiscal 2004, while revenue rose 2.1% from $810.1 million in 2003 to $827.5 million in 2004.
#17 - Ballard Power Systems Inc. also a $100 Million Club member dropped 5 places to 17th from 12th place last year with a decrease of -18.0% in R&D spending between 2003 and 2004. Revenue also fell by -36.8%.
#23 - PMC Sierra, Ltd. fell 1 spot this year from the #22 rank last year. This company's R&D investment of $96.3 million fell -2.8% from last year, while revenue increased 23.7% to $212 million in Fiscal 2004.
#32 - QLT Inc. held its place with a jump of 23.6% in R&D spending to $77.7 million in Fiscal 2004. Revenue also increased by 17.7%.
#38 - TELUS Corporation moved up 3 spots this year by increasing it R&D spending by 19.4% to $56.7 million from $47.5 million in Fiscal 2003.
#46 - ID Biomedical Corporation leaped forward 10 spots propelled by a huge increase in revenue of 684.6% that contributed to a 53.8% increase in R&D spending - bringing their total R&D investment to $48.5 million in Fiscal 2004.
#48 - MacDonald, Dettwiler and Associates Ltd. lost ground this year falling 3 spots. Their R&D spending fell by -4.1% to $43.3 million while achieving a 19.9% increase in revenue over the same period.
#51 - Cardiome Pharma Corp. climbed 37 places from 88th position last year. It was one of the Top 10 Gainers this year with an increase in R&D expenditures of 127.7% to $38.7 million while also increasing its revenue by 336.6% to $26.4 million in Fiscal 2004.
#55 - Sierra Wireless, Inc. also moved forward this year from 68th place last year to #55 this year with a very healthy 63.1% increase in R&D spending to $37.7 million. The company also posted a large revenue increase over this period of 92.8% bringing their revenue to $274.9 million in 2004.
#57 - Angiotech Pharmaceuticals, Inc. another Top Gainer company moved up 20 spots this year with $35.3 million in R&D spending, an increase of 67.9%. Revenue at this company increased 512.3% to $170.2 million.
#59 - Westport Innovations Inc. dropped 15 places this year from 44th place last year. Their R&D spending of $34.1 million fell -24.7% from last year, while still increasing their revenue 31.6% to $32.4 million.
#70 - Inex Pharmaceuticals Corporation also fell 12 spots from #58 last year because of a -12.4% decrease in R&D spending, bringing its spending to $27.2 million in Fiscal 2004. Revenue at this company had a huge increase of 312.9% between 2003 and 2004.
#75 - Stressgen Biotechnologies Corporation moved up 5 places this year with $25.9 million in R&D expenditures, increasing its spending by 24.2% while revenue fell by -94.8%.
100 - Xantrex Technology Inc. moved onto the Top 100 List this year with a jump of 8 spots. Their R&D spending increased by 10.7% to $14.9 million in Fiscal 2004.
Following two years of decline, signs are that corporate spending on research and development (R&D) began to recover in Fiscal 2004. Canada's top corporate R&D companies invested $11.3 billion in R&D activities in Fiscal 2004, an increase of 3.0% over Fiscal 2003. This rebound comes after a two-year downturn in R&D spending. In Fiscal 2004, 62 of the Top 100 companies increased their R&D expenditures. In Fiscal 2003, less than half (45 firms) increased their R&D investment.
Regionally, the 43 companies headquartered in Ontario accounted for just over half (55%) of all R&D spending with $6.2 billion. This represented a very slight decrease from 2003 (-0.3%). Quebec's 31 companies spent $3.86 billion in Fiscal 2004, up 5.2% over 2003. This represented 34% of total R&D expenditures. The 14 British Columbia-based firms invested $794 million, an increase of 6.1% and which represented 7% of the total. The 9 Alberta firms accounted for $389.6 million or 3% of Top 100 spending and posted the largest regional increase of 33.1% over 2003. Removing Nortel Networks from the Ontario calculations, 42 companies invested $3.6 billion, 42% of the total, an increase of 5.1%.
The complete Canada's Top 100 Corporate R&D Spenders List 2005 is available on the Research Infosource website, www.researchinfosource.com. An in-depth Canada's Top Corporate R&D Spenders Report 2005, based on over 650 companies, is slated for publication later this year. 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