December 14, 2004

$2 Million Donated to Faculty of Pharmacy at U of T

TORONTO, ONTARIO – Canadian pharmaceutical leader Apotex Inc. has pledged another $2-million in addition to its original $5-million donation towards the new Leslie L. Dan Pharmacy Building at the University of Toronto.

The gift will support the establishment of a five-storey-high atrium in the building, equipped with a café and the David Bloom/Shoppers Drug Mart Student Lounge. The company’s previous donation funded the Apotex Resource Centre, which will house electronic references as well as wired work stations, study areas and instruction rooms. It also funded the 240-seat Apotex Lecture Hall, outfitted with the latest in presentation technology. 

“Apotex’s continued support over the years has meant a great deal to the faculty, especially in the creation of this new facility,” says Professor Wayne Hindmarsh, dean of the pharmacy faculty. “Their new gift will enhance the Leslie L. Dan Pharmacy Building by providing a focal point and gathering place for Canada’s future leaders.”

“Our commitment demonstrates our belief in the high quality of education offered by the Faculty of Pharmacy at the University of Toronto,” says Jack Kay, president and COO of Apotex. “It recognizes the partnership Apotex has nurtured with customers through our support of faculties of pharmacy, not only in Ontario, but across Canada.”

Hindmarsh says the faculty has undergone a dramatic expansion over the past five years in order to meet the increasing demand for pharmacists in Ontario. “We are in the midst of recruiting a number of new professors and have increased our undergraduate enrolment by over 50 per cent,” says Hindmarsh. “This expansion calls for increased resources and educational facilities. We are grateful that Apotex is alongside with us as we grow into a world leader in pharmacy education.” 

Apotex itself has undergone dramatic growth. Founded in 1974 by chairman and CEO Barry Sherman and two employees it has become the largest Canadian-owned pharmaceutical company with over 4,000 employees. This year, the company announced a $627-million expansion, the largest pharmaceutical investment in Canadian history. Apotex has given generously to U of T for more than 20 years. 

Apotex’s contributions stem from a desire to encourage future leadership in an ever-growing field, says Kay. “We must support our community, including leading educational institutions,” he says. “The University of Toronto is a world leader in developing the professionals of tomorrow. My own personal commitment and the increase in our corporate commitment to the new pharmacy building demonstrate our long-term partnership and the need to help the health care system prepare pharmacists to manage drug therapy of the future.”

The $75-million, 15,600-gross-square-metre (167,000 square-foot) new home for the Leslie Dan Faculty of Pharmacy is slated for completion in September 2005. It will be located on College Street, west of Queen’s Park Crescent.

-30-

For further information:

Karen Kelly
U of T Public Affairs
416-978-6874
k.kelly@utoronto.ca

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