Contract drug manufacturer Patheon (TSX:PTI) is paring back some operations in Europe and Canada as part of a new corporate strategy to review the company’s global footprint and cut costs. Research Triangle Park, North Carolina-based Patheon said that its new strategy will include investing in its pharmaceutical development services business (PDS), which includes manufacturing the investigational drugs that pharmaceutical companies use in clinical trials. Patheon said it would expand its presence in early drug-development services. Currently, the manufacture of already commercialized drugs brings in most of Patheon’s revenue.
