Pharmascience Inc. invests $55 Million to Upgrade its R&D and Manufacturing Facilities in Greater Montreal, Quebec
Introduction:
Pharmascience Inc. announced plans to modernize its R&D facilities and increase its production capacity in Greater Montreal with an investment of $55.7 million.
Features:
Of the total $55.7 million investment, $8.2 million will go towards the modernization of the company’s R&D facilities to facilitate the development of new products for international markets. The additional $47.5 million will support new production, packaging and quality management technologies to better meet the growing global demand for the medications the company manufactures, while also enhancing its competitiveness.
This investments will create 65 new jobs and help secure the existing jobs based in Greater Montreal.
The investment was made possible by financial contributions of $4 million from Investissement Québec and $800,000 from Emploi Québec, which will enable Pharmascience to pursue a diversification strategy based on the development of new products and an increased international profile.
Specifications:
| Company Name | Pharmascience Inc. |
| Location | Montreal, Quebec |
| Type | R&D and Manufacturing Facilities Upgrade |
| Estimated Cost | $55.7 million |
| Completion Year | 2016 |
