Pharmaceuticals to Replace Telecom as Canada’s Top R&D Spenders?
RESEARCH Infosource released a report last week titled “Canada’s Top 100 Corporate R&D Spenders List 2009 Analysis“
Canada’s communications/telecom sector was the number one R&D spend – with 2008 research spending on associated products and services representing 40% of total industrial R&D. Of the top 100 R&D performers, 15 were from the communications/telecom sector.
In 2008, Nortel was the number one R&D spender. Nortel spent more on R&D than number 2 Bell and number 3 Magna combined.
Next year’s report will likely see the pharmaceutical sector replace communications/telecom products as the leading performer of R&D in Canada. According to RESEARCH Infosource -
The full effect of the deteriorating world economy will be reflected in next year’s Fiscal 2009 corporate R&D spending results. It is hard to envisage better overall performance than in 2008. For one thing, it appears that Canada’s perpetual R&D spending leader (Nortel Networks) will be absent from the list in 2009. In consequence, total corporate R&D spending will undoubtedly be affected – in a downward direction.
The full report from RE$EARCH Infosource is available here and is worth reading.