Attention: Business and News Editors
July 15, 2003
For Immediate Release

Generic Company #1 In Canadian Pharmaceutical Industry For Research & Development Spending

TORONTO, ONTARIO, CANADA – The Apotex Group, the largest Canadian owned pharmaceutical company headquartered in Toronto, has moved into the #1 position in Canada for research and development spending in the pharmaceutical industry.

In the 2003 “Canada’s Top 100 Corporate R&D Spenders” produced by Research Infosource an Impact Group company, the Apotex Group was 13th overall in all industrial sectors and 1st in the pharmaceutical industry.

This is the first time that a generic pharmaceutical company has moved into the top position. With R&D expenditures of $153,207 million in 2003 it represents 20.4% of revenue at the Apotex Group. In comparison, the two top multinational brand pharmaceutical companies on the list, Pfizer® and Merck Frost® spent less in total on R&D than Apotex and as a percentage of revenue they were only at 12.3%.

“This achievement is an important milestone for the Canadian owned industry and represents expenditures for us in the research and development of medicines in the generic, innovative and biotechnology areas. We are proud of our over 5,050 employees including the 2,000 scientific staff.” Stated President and C.O.O., Jack Kay.

The Apotex Group with headquarters in Toronto, has 21 facilities in Canada with a world mandate for all products. 

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For additional information, please contact:

Mr. Elie Betito
Director Public & Government Affairs
Tel: 416-749-9300 Ext. 7366
ebetito@apotex.com