Investment in Pharmascience Inc. to increase domestic production capacity
CANDIAC, QC, Oct. 27, 2023 /CNW/ – Canada needs to be able to deal with any future pandemics or health emergencies. That is why the Government of Canada, and the Government of Quebec, are investing in the revitalization of the Canadian biomanufacturing and life sciences sector with projects that strengthen our capabilities, while boosting the economy and creating or maintaining hundreds of well-paying jobs.
Today, the Honourable Soraya Martinez Ferrada, Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec, speaking on behalf of the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, alongside Pierre Fitzgibbon, Quebec Minister of Economy, Innovation and Energy, and Christian Dubé, Quebec Minister of Health, announced a $29.77 million investment through the Strategic Innovation Fund to support Pharmascience Inc.’s $119.33 million project. This contribution will allow Pharmascience to update and expand its facility in Candiac, Quebec, increasing its capacity to produce sterile injectables. The Government of Quebec also announced an investment of $24.75 million toward the same project.
With this project, Pharmascience will be adding over 2,500 square metres to its facility, retrofitting 560 square metres of existing space, making enhancements to automated processes and purchasing new state-of-the-art equipment. This will allow the company to increase its production capacity by 2.5 times and create 47 high-paying jobs.
This contribution aligns with Canada’s Biomanufacturing and Life Sciences Strategy and supports the growth of Canada’s life science ecosystem and domestic pharmaceutical supply chain.
“Pharmascience’s work to update and expand its Quebec facility is a move that supports the strategic growth of Canada’s life sciences sector and increases our cutting-edge biomanufacturing capabilities. This project not only ensures Canadians have access to critical medicines but also helps to strengthen and expand Canada’s growing biomanufacturing and life sciences industry.”
– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry
“Quebec is fast becoming a major hub for the biomanufacturing and life sciences sector, both in Canada and around the world. By expanding the capacity of an already impressive facility, this investment by the governments of Canada and Quebec will further strengthen that, while creating high-level and well-paying jobs in the Montréal area.”
– The Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec
- Since March 2020, over $2.1 billion has been invested in the Canadian biomanufacturing and life sciences sector, resulting in 36 major new and expanded projects to boost our domestic biomanufacturing, vaccine and therapeutic ecosystem.
- On July 28, 2021, the Government of Canada launched Canada’s Biomanufacturing and Life Sciences Strategy, which presents a long–term vision to protect Canadians against future epidemics and pandemics.
- Founded in 1983, Pharmascience is a Canadian privately owned company and is one of the largest pharmaceutical employers in Quebec, with 1,500 employees.
- Pharmascience is an important contributor to the Canadian pharmaceutical supply chain, producing more than 1,400 drug products for use in Canada and investing significantly in further research and development.
- The government’s investments in Canada’s life sciences and biomanufacturing sector support thousands of good middle-class jobs while securing Canada’s pandemic preparedness for years to come.
- Biomanufacturing: Advancing life sciences industry in Canada
- Biomanufacturing: Projects underway
- Strategic Innovation Fund
- Pharmascience Inc.
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