Teva Canada wins funding to upgrade Ontario plants
But generic drugmaker plans to shut factory in Quebec
The Ontario government is helping generics manufacturer Teva Canada expand its production, while creating 20 new jobs and protecting 182 jobs at its Stouffville, Markham and Scarborough plants.
Teva Canada is to expand its Stouffville plant and install state-of-the-art equipment, supported by government funding of CAD$6.5m (£4.2m).
The upgrades will allow Teva to produce one billion more tablets of generic prescription drugs annually. The company currently produces more than six billion tablets per year for domestic and export markets.
Barry Fishman, president and ceo of Teva Canada, said: ‘In addition to supporting highly skilled workers, our expanded plant and new equipment will enable us to increase our capacity to service the needs of patients in Ontario and across Canada.’
Teva Canada's parent company, Israel-based Teva Pharmaceutical Industries, is the world's largest generic pharmaceutical company.
Ontario's life sciences industry employs more than 40,000 people at about 850 companies with revenues exceeding CAD$14bn a year.
Meanwhile in Quebec, the Canadian press reports that Teva is to close a former Ratiopharm plant in Mirabel, with the loss of 340 jobs.
Teva had already announced plans either to sell the plant, within a certain deadline, or shut it down. The majority of the staff will continue working through the summer and a smaller number will help dismantle the facility at the end of the year.
