 "Valeant Pharma to expand Canadian operations")
Valeant Pharmaceuticals International Inc is expanding its Canadian manufacturing and export capacity with investments totalling $27.5 million in its Steinbach (Manitoba) and Laval (Quebec) manufacturing facilities.
“Our investments reflect our ongoing commitment to growing our operational presence and export capacity in Canada. These facilities play a critical role in advancing healthcare technology both in Canada, and around the globe, and we are proud to take on an even larger role in further bolstering Canada's life sciences economy,” said Joseph Papa, chairman and chief executive officer, Valeant Pharmaceuticals.
Valeant will invest $15 million in its Steinbach facility by the end of 2016, including $7 million in upgrades to product manufacturing technology and $8 million for the transfer of North American production of Xifaxan (rifaximin) and Apriso (mesalamine). Xifaxan is prescribed to relieve symptoms of hepatic encephalopathy and irritable bowel syndrome and Apriso is used to treat ulcerative colitis. These investments will support the facility’s growth and expand its role as a key exporter of leading healthcare products while ensuring robust security for products traveling through international distribution channels. Since 2012, Valeant has transferred 27 technologies to Steinbach for manufacturing.
Valeant also announced $12.5 million of investments in its Laval facility, which includes $10 million to upgrade product manufacturing technology, as well as $2.5 million associated with the transfer of production of Arestin (minocycline hydrochloride) to Laval. The transfer of Arestin, an antibiotic treatment for periodontal disease, will create 15 new engineering and production jobs and builds upon the transfer of Jublia production to Quebec earlier this year. Since 2012, Valeant has transferred numerous technologies to Laval, resulting in the production of 67 new products.
“Our investments reflect our ongoing commitment to growing our operational presence and export capacity in Canada. These facilities play a critical role in advancing healthcare technology both in Canada, and around the globe, and we are proud to take on an even larger role in further bolstering Canada's life sciences economy,” said Joseph Papa, chairman and chief executive officer, Valeant Pharmaceuticals.
Valeant will invest $15 million in its Steinbach facility by the end of 2016, including $7 million in upgrades to product manufacturing technology and $8 million for the transfer of North American production of Xifaxan (rifaximin) and Apriso (mesalamine). Xifaxan is prescribed to relieve symptoms of hepatic encephalopathy and irritable bowel syndrome and Apriso is used to treat ulcerative colitis. These investments will support the facility’s growth and expand its role as a key exporter of leading healthcare products while ensuring robust security for products traveling through international distribution channels. Since 2012, Valeant has transferred 27 technologies to Steinbach for manufacturing.
Valeant also announced $12.5 million of investments in its Laval facility, which includes $10 million to upgrade product manufacturing technology, as well as $2.5 million associated with the transfer of production of Arestin (minocycline hydrochloride) to Laval. The transfer of Arestin, an antibiotic treatment for periodontal disease, will create 15 new engineering and production jobs and builds upon the transfer of Jublia production to Quebec earlier this year. Since 2012, Valeant has transferred numerous technologies to Laval, resulting in the production of 67 new products.