AstraZeneca purchase increases its Canadian content
Good news today for the drug manufacturing industry in Canada. AstraZeneca Plc has increased its Canadian content by buying a Canadian drug-making factory from Dutch chemical group DSM NV, increasing its capacity in biotech medicine.
DSM Biologics Inc., a subsidiary of DSM NV, sold its 66,000 sq. ft. Montreal-based biologics manufacturing unit for an undisclosed sum. The facility will be used to manufacture antibody drug candidates for clinical trials and will serve the whole of the AstraZeneca group. AstraZeneca will re-commission the unit and plans to commence full scale production in 2009.
Source: Reuters
Hopefully this facility will contribute to developing our talent pool of quality drug manufacturers, growing skills that can be applied to our own home-grown biotech companies down the line.
Kevin currently manages initial client engagements with the MaRS Venture Group. He also administers a federal fund that provides mentorship to start-up companies across Ontario.