October 5, 2012
For Immediate Release
New Apotex Offices in Saudi Arabia Will Help Expand Trade in Quality, Affordable Pharmaceuticals
Toronto, ON (October 5, 2012) – Apotex Inc. the largest Canadian owned pharmaceutical company, announced today the opening of new offices in Saudi Arabia to meet the growing demand for affordable quality pharmaceuticals manufactured in Canada.
At special ceremonies in Riyadh, the Canadian Minister of International Trade and Minister for the Asia-Pacific Gateway, The Honourable Ed Fast, helped officially open three locations, one in Jeddah one in Riyadh, and one in Dammam, while leading a trade mission to Saudi Arabia and Jordan. "We are pleased with Apotex's success in the Saudi market," said Minister Fast. "Canadian companies that succeed outside of Canada create jobs and increase prosperity both abroad and at home."
Currently, the three Apotex sites are operating with 41 new employees with plans to expand these numbers in the future. Sales are estimated to grow quickly. The Saudi government is offering a strong environment to attract direct foreign investment with the objective to expand employment opportunities in the country and trade.
"The Saudi market is the largest in the Middle East and presents an attractive business opportunity." stated Mark Heselton, President of Apotex International.
"The expansion of the international trade market for Canadian companies like Apotex is essential to maintain our strategic growth plans. We support the Canadian Conservative government's agenda to reduce trade barriers and expand markets." concluded Mr. Heselton.
Apotex is the largest Canadian owned pharmaceutical company with over 6,000 employees. Globally it has another approximately 1,500 employees with estimated sales of approximately $1.5 billion.
With all our worldwide manufacturing sites, we can produce up to 30 billion dosages per year.
It produces 300 medicines in 4,000 dosages and formats that are exported to 115 countries.
It has 600 products under development and will spend $2 billion over the next 10 years on research and development. With an aging population, the global healthcare systems have a strong need for affordable quality medicines.