Assessing the Strength of the Toronto Biopharmaceutical Cluster
One of Ontario’s significant assets is Toronto’s biopharmaceutical cluster. The industry has excellent human and capital resources available to it and in employment terms it has become the eighth largest in North America. Nevertheless, the cluster represents untapped potential for Ontario’s competitiveness and prosperity. Despite its impressive factor conditions the cluster has not produced many world leading companies, wages are well below levels achieved in comparable US clusters, patent output is lower than its “fair share”, and per capita research and development in the industry is well below levels achieved in many other developed countries.