The Quebec pharmaceutical company JAMP Pharma has acquired a production facility in Lévis that ceased operations in August 2023.
The Boucherville-based company assures that this transaction will be completed subject to Supreme Court approval and satisfaction of customary closing conditions.[répondre] to a growing demand for locally manufactured pharmaceutical products.
“Only 12% of the medicines consumed by Canadians are manufactured domestically. This acquisition therefore strengthens the Canadian supply chain and contributes to the fight against drug shortages that have become particularly evident during the pandemic,” JAMP Pharma Group said in a press release.
The company also plans to invest in research and development to bring new product formulations to market and ensure continuous supply of several new generic products.
“This announcement will enable the company to repatriate production of tablets, capsules, oral liquids and oral powders locally,” it said.
Photos provided by JAMP Pharma. default
The Pharmalab production facility in Lévis has an area of 100,000 square meters. Since the latter ceased operations last fall, an assessment of existing facilities and equipment is being conducted to ensure the facility meets the highest industry standards.
The JAMP Pharma Group would like to employ a significant number of the 250 former Pharmalab employees.