Teva Canada Welcomes Efforts to Address Critical Drug Supply in the Federal Budget

TORONTO, April 20, 2021 /CNW/ - Teva Canada Limited, a subsidiary of Teva Pharmaceutical Industries Ltd., strongly welcomes the Government of Canada's commitment in the April 19, 2021 federal budget to support Canada's life science sector. The Budget includes $2.2 billion over seven years "towards growing a vibrant domestic life sciences sector" and will be part of the plan "to build domestic resilience and improve long-term pandemic preparedness".

Teva Canada welcomes efforts to address critical drug supply in the federal budget - $2.2 billion over 7 years announced

Christine Poulin, General Manager of Teva Canada, said the organization is encouraged that the federal government is promoting long-term sustainable growth in Canada's biomanufacturing sector. She made the following statement:

"As a manufacturer of essential medicines in Canada, Teva Canada has always maintained that the Government of Canada must take a comprehensive approach to supporting domestic pharmaceutical manufacturing and critical drug supply. COVID-19 has demonstrated the importance of securing a resilient pharmaceutical supply chain and infrastructure. Canada currently has capacity for essential drug manufacturing. Governments need to support what is already available and ensure these facilities stay and grow. Canadians continue to need access to both their regular day-to-day medicines, in addition to products needed to prevent and treat COVID-19. We welcome this support for Canada's life sciences and biomanufacturing sector."

In June 2020, the Canadian Generic Pharmaceutical Association (CGPA) released its Blueprint for a Sustainable Supply of Prescription Medicines for Canadians that identifies measures to strengthen the domestic pharmaceutical industry. The measures aim to ensure Canadians have a secure and consistent supply of prescription medicines now and to meet the needs of future health emergencies, including the ongoing COVID-19 pandemic.

About Teva's footprint in Canada:

  • Headquartered in Toronto, Teva Canada is home to three manufacturing sites in Ontario.
  • The head office of Teva Canada's Specialty division is located in Montreal, Quebec.
  • There are more than 900 professionals employed across Canada.
  • 75% of bulk doses sold in Canada are manufactured here.
  • 96% of medicines manufactured at Teva Canada's Stouffville site is for the Canadian market.
  • Companies such as Teva Pharmaceuticals Industries, with large manufacturing footprints in Canada, and the ability to leverage global manufacturing and supply networks, can support the Federal Government to respond to future health emergencies and promote long-term sustainable growth in Canada's pharmaceutical sector.

What Teva Canada is doing to support Canadians during the COVID-19 pandemic:

  • Maintained fully operational facilities across Canada to meet demand.
  • Continued to provide regular day-to-day medicines and unanticipated emergency medicines to fill more than 192,0001 prescriptions a day.
  • Responded to short-term and medium-term supply disruptions, managing national inventories to provide uninterrupted supply to patients.
  • Sourced an emergency supply of salbutamol inhalers from within the global Teva supply chain to meet critical demand surge in Canada.
  • Expanded resources to support caregivers and mental health challenges exacerbated during COVID-19. Accessible at: TevaCanada.com/Caregivers and TevaCanada.com/LifeEffects

About Teva Canada

Teva Canada, headquartered in Toronto, has provided affordable healthcare solutions to Canadians for over 50 years, building their trust one prescription at a time with now more than 192,0001 prescriptions filled each day with our products, representing 1 of every 8 generic prescriptions in Canada2. Originally Novopharm Limited, Teva Canada specializes in the development, production, and marketing of high-quality generic prescription pharmaceuticals and, through our branded division, focuses on a diverse line of speciality and biopharmaceutical products in a variety of therapeutic areas such as central nervous system (CNS), respiratory, oncology and rheumatology. Teva Canada's commitment to helping improve the lives of Canadians also extends to the Teva Caregiver program – providing tools and resources for Canadians navigating the care journey. Teva Canada employs more than 900 professionals, had sales of nearly $1.1 billion3 in 2020, and markets more than 3604 products in over 840 SKUs4 in Canada. We are a proud subsidiary of Teva Pharmaceutical Industries Ltd. Learn more at www.tevacanada.com.

About Teva Pharmaceutical Industries Ltd.

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been developing and producing medicines to improve people's lives for more than a century. We are a global leader in generic and specialty medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day, and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with our established presence in generics, we have significant innovative research and operations supporting our growing portfolio of specialty and biopharmaceutical products. Learn more at www.tevapharm.com.

                       
 

1 Source: IQVIA CDH Compuscript TRx MAT Dec 2020

2 Source: IQVIA Compuscript Trx MAT 2020.12

3 Source: IQVIA CDH & Compuscript MAT Dec 2020

4 Source: Teva Price list March 2, 2021

SOURCE Teva Canada

Back to news