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Attention Business, Technology and Economics Editors and Reporters
31 Québec Firms Make Canada's Top 100 Corporate R&D Spenders List 2005
Toronto - October 18, 2005 - Thirty-one Québec-based companies made Canada's Top 100 Corporate R&D Spenders List 2005 released today by Research Infosource Inc. up from 26 companies last year. Together these companies accounted for $3.86 billion in research and development (R&D) spending in Fiscal 2004, an increase of 5.2% from $3.7 billion in Fiscal 2003. Over the same period, revenue climbed by 15.3% from $93.1 billion to $107.4 billion in 2004.
In Fiscal 2004, Québec-based companies accounted for 8 of the 21 firms that qualified for Research Infosource's $100 Million Club (companies that spend $100 million or more on R&D in Fiscal 2004): Bell Canada in 2nd place overall on Canada's Top 100 Corporate R&D Spenders List 2005 spent $1.45 billion; Pratt & Whitney Canada Corp. in 4th place invested $465 million; Alcan Inc. moved to 7th place, up 1 spot from last year with $311.1 million, Ericsson Canada Inc. in 8th spot posted R&D expenditures of $235 million; Bombardier Inc. stayed in 9th position investing $192.6 million, Pfizer Canada Inc. moved up to 12th place from 14th spot last year and spent $159.6 million; and Merck Frosst Canada Ltd in 19th place overall invested $117.7 million.
"It's good to see Québec companies continuing to increase their commitment to R&D", said Ron Freedman, CEO of Research Infosource.
Seven Québec firms increased R&D spending by more than 45%: ratiopharm inc. (210.0%), Cascades Inc. (177.8%), Neurochem Inc. (65.9%), ConjuChem Inc (58.8%), Alcan Inc. (58.5%), Axcan Pharma Inc. (52.5%) and Tembec Inc. (46.2%).
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
Toronto - October 18, 2005 - Thirty-one Québec-based companies made Canada's Top 100 Corporate R&D Spenders List 2005 released today by Research Infosource Inc. up from 26 companies last year. Together these companies accounted for $3.86 billion in research and development (R&D) spending in Fiscal 2004, an increase of 5.2% from $3.7 billion in Fiscal 2003. Over the same period, revenue climbed by 15.3% from $93.1 billion to $107.4 billion in 2004.
In Fiscal 2004, Québec-based companies accounted for 8 of the 21 firms that qualified for Research Infosource's $100 Million Club (companies that spend $100 million or more on R&D in Fiscal 2004): Bell Canada in 2nd place overall on Canada's Top 100 Corporate R&D Spenders List 2005 spent $1.45 billion; Pratt & Whitney Canada Corp. in 4th place invested $465 million; Alcan Inc. moved to 7th place, up 1 spot from last year with $311.1 million, Ericsson Canada Inc. in 8th spot posted R&D expenditures of $235 million; Bombardier Inc. stayed in 9th position investing $192.6 million, Pfizer Canada Inc. moved up to 12th place from 14th spot last year and spent $159.6 million; and Merck Frosst Canada Ltd in 19th place overall invested $117.7 million.
"It's good to see Québec companies continuing to increase their commitment to R&D", said Ron Freedman, CEO of Research Infosource.
Seven Québec firms increased R&D spending by more than 45%: ratiopharm inc. (210.0%), Cascades Inc. (177.8%), Neurochem Inc. (65.9%), ConjuChem Inc (58.8%), Alcan Inc. (58.5%), Axcan Pharma Inc. (52.5%) and Tembec Inc. (46.2%).
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