Jubilant Pharmova Limited’s wholly owned subsidiary Jubilant Pharma Limited, through one of its wholly owned subsidiaries, Jubilant HollisterStier General Partnership, (JHS) a leading Canada-based pharmaceutical contract manufacturer, announced today that the Government of Quebec, through its agent Investissement Quebec, is granting a loan of CAD 25 million, which includes a forgivable portion of CAD 6.3 million to fund the CAD 100 Mn capacity expansion at the CMO Montreal facility. The loan disbursement is subject to final agreement to be signed between the two parties.
This investment aims to modernize and augment the drug production capacity by over 100% at the Montreal, Canada facility. As part of this initiative, Jubilant HollisterStier will acquire new specialized equipment and equip the plant with a single-use sterile preparation room to maximize the filling process linked to the production of liquid sterile products.
The Minister of Economy and Innovation and Minister responsible for Regional Economic Development, Mr. Pierre Fitzgibbon, made the announcement today.
“This modernization project shows the effervescence that is being created in Montreal in the life sciences. To have a more efficient health network, we must increase our health autonomy. The pandemic has shown us how important it is to strengthen our supply chains, and that is exactly what we are doing today.” said Mr Pierre Fitzgibbon.