November 26, 2014
By Riley McDermid, BioSpace.com Breaking News Editor
Valeant Canada has doubled down on its plant in Steinbach, Manitoba, opening a new addition on Tuesday that will use around $10 million in new funding to create a new natural products line and 60 new jobs.
The site is Valeant’s largest North American manufacturing facility and makes around 50 percent of the firm’s global prescription drugs. Valeant acquired the line, which includes popular cold remedy Cold FX, when it bought Afexa Life Sciences in 2011.
Local officials lauded the investment and said that adding new jobs to the region will be a massive boost to the local economy."We are extremely proud of the expansion of this facility in Steinbach as it provides tangible benefits in terms of economic growth and job creation,” Kevin Chief, minister of jobs and the economy, said at the ribbon cutting.
“This opportunity allows us to consolidate high-level jobs, and keep the expertise and know-how in Manitoba,” he said. “Manitoba is the pharmaceutical manufacturing hub of Western Canada thanks to companies like Valeant that are committed to investing and playing a key role in our communities.”
The 250,000-square-foot plant produces around one billion tablets annually, including depression drug Wellbutrin and blood pressure drug Cardizem, said the company.
Quebec-based Valeant Pharmaceuticals International, Inc. specializes in branded generics, over-the-counter treatments for dermatology and eye health and pharmaceuticals. It employs around 15,000 people globally, 500 of them in Steinbach, and saw annual sales in 2013 of $5.76 billion. The company makes branded pharmaceuticals, branded generics and over-the-counter products with a specialization in dermatology and eye health.
