Teva Canada Limited Invests $56 Million to Expand its Stouffville Production Plant; Will Retain 182 Workers and Hire 20 New Employees

Press Release -- The world's largest generic pharmaceutical company is investing $56 million to expand its Stouffville production plant. Ontario is providing a $6.5-million grant to Teva Canada, which will retain 182 high-skilled workers and hire 20 new employees. More than half of the drugs produced by Teva in Canada are exported globally.

The partnership was announced on the same day McGuinty, and other members of the Ontario delegation, met with scientists at Israel's Weizmann Institute of Science to explore opportunities for new partnerships and investment. The institute is one of the world's foremost research institutions and is recognized for its work on finding new ways to fight hunger and disease, math and computer science research, and pure physics.

After meeting with its President, Daniel Zaifman, the Premier toured a molecular genetics lab at the Institute and expressed interest in appointing a Chief Scientist to advise the Government of Ontario on research and scientific opportunities to help create jobs.

Following that visit, McGuinty met with the CEO and scientists from Ramot at Tel Aviv University. While there he saw how Israel's leading research university turns new discoveries into high-skilled jobs and new investments.