PHARMASCIENCE ANNOUNCES $120 MILLION EXPANSION OF CANDIAC INJECTABLE MANUFACTURING FACILITIES

This major project will enhance Canada's domestic medicine supply, boost exports

CANDIAC, QC, Oct. 27, 2023 /CNW/ - Pharmascience Inc. (Pharmascience) is pleased to announce a major expansion of its sterile injectable manufacturing facility in Candiac, Québec, supported by partners with Innovation, Science and Economic Development Canada's Strategic Innovation Fund and by the Government of Québec through Investissement Québec.

As the largest Canadian-owned pharmaceutical company, Pharmascience is dedicated to building on its 40 years of expertise in pharmaceutical manufacturing by investing in growth in Québec. This major expansion project will allow Pharmascience to triple its injectable manufacturing capacity and has numerous benefits to the health of Canadians and to patients worldwide.

With the new plant expansion coming online in 2026, this project will:

• Build on our strengths in R&D to attract more Contract Development and Manufacturing (CMO and CDMO) projects
• Improve Canada's domestic biomanufacturing capabilities and ability to meet our pharmaceutical supply chain needs
• Increase manufacturing efficiency and result in faster response times to product shortages or urgent health challenges
• Fully implant Pharmascience as the Canadian leader in specialized, cytotoxic and high-potency injectable pharmaceutical manufacturing

"This major expansion project is the continuation of Pharmascience's vision to be the Canadian leader in biomanufacturing of both generic and innovative products. We are proud to invest in the continued growth of Pharmascience, building on our 40 years of experience in the sector, to bring affordable, high-quality medicines to patients in Canada and around the world."

-  David W. Goodman, PhD, Executive Chairman, Pharmascience

"Today's announcement shows that Pharmascience is determined to support local manufacturing  and that we believe in the need to invest in Québec and in Canada. We are proud to announce this major project that will firmly cement our role as leaders in Canadian pharmaceutical manufacturing. This project proves that, with the support of governments, we can support local manufacturing and our domestic capacity to secure pharmaceutical supply chain security as well as the strength of our healthcare system."

-  Martin Arès, CEO, Pharmascience

"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

"Our government is continuing to build a strong and innovative Québec life sciences industry. Focusing on major projects such as Pharmascience's will strengthen the foundation of this strategic sector and bolster our local supply."

-  Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister Responsible for Regional Economic Development and Minister Responsible for the Metropolis and the Montréal Region

"Our priority is to promote self-sufficiency in terms of supply and support innovation in the health field to improve our network's performance, as mentioned in the Plan santé. By supporting the Pharmascience project, we are leveraging local expertise to better meet the needs of Quebecers."

-  Christian Dubé, Minister of Health

"The expansion of Pharmascience's facilities in Candiac is an eloquent testimony to the commitment of this major Quebec family business to maintaining the pharmaceutical supply chain for the benefit of all Canadians. Counting Pharmascience among its corporate citizens is a source of pride for the municipal council. Its reputation and worldwide success can only benefit the entire community."

-  Normand Dyotte, Mayor of Candiac

• This project will triple Pharmascience's current injectable manufacturing capacity from its 2021 level, with the addition of new, more efficient equipment.
• The new facility comprises approximately 26,000 square feet of new manufacturing space and equipment, and a retrofit of approximately 7,500 square feet to Pharmascience's existing manufacturing facilities.
• Valued at a total of $120 million, this project is supported by the Government of Canada's Strategic Innovation Fund at $29.77 million and by the Government of Québec through Investissement Québec at $24.75 million.
• 50 new high-skilled advanced manufacturing jobs will be created as a result of the project, with the project supporting an additional 300 jobs.
• Pharmascience will be able to invest approximately $40-50 million every year in R&D in Canada.
• With only 12% of Canada's drug supply produced domestically, this project will add much needed domestic manufacturing capacity to protect Canada's pharmaceutical supply chain.

Founded in 1983, Pharmascience Inc. is the largest pharmaceutical employer in Quebec. With 1,500 employees proudly headquartered in Montreal, Pharmascience Inc. is a full-service, privately-owned pharmaceutical company with strong roots in Canada and a growing global reach, with product distribution in over 50 countries. Ranked 50th among Canada's top 100 Research and Development (R&D) investors in 2022, with $40-50 million in annual investment, Pharmascience Inc. is among the largest drug manufacturers in Canada.

Pharmascience Inc. has strong values based on the importance of investing in its employees and young people. Through various programs and initiatives, the company ensures it supports their personal development and life. In 2023, Pharmascience Inc. has proudly been recognized for its investments by being selected as one of Canada's Top Employers for Young People as part of Canada's Top 100 Employers. Also as of 2023, Pharmascience is now certified as a Great Place to Work for its second year in a row.

SOURCE Pharmascience Inc.