Pharmascience has launched a $120-million expansion of its injectable-drug manufacturing plant in suburban Montreal.
The project announced Friday will triple Pharmascience’s current injectable-drug manufacturing capacity from its 2021 level, said the Montreal-based company in a news release.
Located in Candiac, Que., the new facility will comprise 26,000 square feet of new manufacturing space and equipment. Plans also call for 7,500 sf in retrofits.
“This major expansion project is the continuation of Pharmascience’s vision to be the Canadian leader in biomanufacturing of both generic and innovative products,” said David Goodman, Pharmascience’s executive chairman. “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.”
The federal government said it is investing $29.77 million through its strategic innovation fund, while the Quebec government is providing $24.75 million.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.