November 9, 2004
For Immediate Release
Apotex Announce Largest Pharmaceutical Investment
in Canadian History
$627 Million Expansion Has Created 1,500 Jobs
TORONTO, ONTARIO – Apotex today announced the completion
of the largest pharmaceutical investment in Canadian history. The
announcement coincided with the opening of a new state-of-the art research
and development and manufacturing facility, and major expansions at three of
the firm’s other high-tech operations.
“Apotex’s unprecedented investment of $627 million is a testament to our
commitment to Canada and to global healthcare needs,” said Jack Kay,
President and COO of Apotex. “It’s also a demonstration of our commitment
to keeping science and engineering talent at home.”
The opening and expansion of Apotex’s new facilities has created 1,500 new
high-skill, technical, scientific and engineering jobs in the Greater Toronto
Area. Apotex now employs more than 6,000 people worldwide and is one of the
top fifteen employers in Ontario.
With the addition of Apotex’s new manufacturing capabilities, which
represent more than one million square feet of R&D and state-of-the-art
production space, the company has the capacity to produce 20 billion tablets
and capsules a year.
Several prominent guests including Premier Dalton McGuinty of Ontario; The
Honourable Judy Sgro, Federal Minister of Citizenship and Immigration; The
Honourable Joseph Cordiano, Ontario Provincial Minister of Economic
Development and Trade; Toronto Mayor, David Miller; and Mayor of Richmond
Hill, William Bell joined 500 Apotex guests and employees to officially open
the largest of the facilities in Toronto, Ontario.
“This new investment, which rivals some of the biggest capital investments
made in Canada by any industry in terms of size and job creation, eliminates
any concern of potential pharmaceutical shortages in Canada,” said Kay.
The new investment includes an expanded R&D and production operation in
Etobicoke, Ontario, which will manufacture solid dosage products primarily
for the U.S. market. The two facilities in North York, Ontario, include an
expanded antibiotics production operation and a new special products facility
which will manufacture products, such as blood thinners, that require special
environmental controls. The fourth facility in Richmond Hill, Ontario is an
expanded space for the purpose of R&D and manufacturing of injectables,
ophthalmics and aerosols.
As part of today’s event, Apotex also announced that it is re-branding all
companies in the Apotex Group of Companies (Apotex Inc., Novex Pharma,
TorPharm, Brantford Chemicals) under the Apotex name.
About Apotex
Apotex Inc. was founded in 1974, and is the largest Canadian-owned
pharmaceutical company. From its two employees, 5,000 square foot beginning,
the company has grown to employ over 6,000 people in research, development,
manufacturing and distribution facilities world-wide. The Canadian operations
of the Apotex Group of Companies with over 5,300 employees now occupy over
3.3 million square feet in Montreal, Richmond Hill, Toronto, Etobicoke,
Mississauga, Brantford, Windsor, Winnipeg, Calgary and Vancouver and exports
to over 115 countries. Apotex produces more than 240 generic pharmaceuticals
in approximately 4000 dosages and formats which, in Canada, are used to fill
over 55 million prescriptions a year - the largest amount of any
pharmaceutical company in this country.
R&D expenditures for Apotex in 2004 was $191 million
representing 20% of sales, placing Apotex in the top 15 research and
development companies in Canada and the top pharmaceutical company. Plans are
to spend more than $1 Billion on R&D over the next 10 years.
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Photos and video footage are available upon request.
For further information:
Mr. Elie Betito
Director Public & Government Affairs
Tel: 416-749-9300 Ext. 7366
ebetito@apotex.com
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