News June 2, 2010
The McGuinty Government is providing a $6.5 million grant to help Teva Canada bring a $56 million investment to Whitchurch- Stouffville. The grant will help Teva Canada expand its pharmaceutical production plant – the world’s largest – and retain 182 highly skilled workers while hiring 20 new employees. More than half of the drugs Teva Canada produces are exported globally.
The partnership was announced by Premier McGuinty’s trade mission to Israel, at a meeting he and other MPPs held with scientists at Israel's Weizmann Institute of Science. The purpose of that meeting was to explore opportunities for new partnerships and investment. This 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.
Teva is among the top 15 pharmaceutical companies and among the largest generic pharmaceutical companies in the world. One of their production plants is located in Whitchurch-Stouffville in the riding of Oak Ridges-Markham. Teva Pharmaceutical Industries Ltd. specializes in the development, production and marketing of generic and proprietary-branded pharmaceuticals and active pharmaceutical ingredients.
Creating jobs and economic growth is part of the McGuinty Government’s five-year Open Ontario Plan. This grant from the Provincial Government means an economic step forward toward growth for our province.
"Teva Pharmaceuticals is a perfect example of the kind of partner we're looking for in Israel. This is a country where scientists and academic leaders have figured out how to turn today's ideas into tomorrow's new investments. We're here to learn and promote the benefits of doing business with Ontario's life sciences companies."– Dalton McGuinty, Premier of Ontario
“The partnership between Israel’s Teva Pharmaceuticals and the Government of Ontario creates new high-skilled jobs for people and puts my riding of Oak Ridges-Markham on the map for being one of the world’s leaders in the production of pharmaceuticals.”– Dr. Helena Jaczek, MPP, Oak Ridges-Markham.
“Teva’s High Potent Product Manufacturing Facility Expansion in Stouffville, Ontario will enable us to secure Canadian and export mandates for high-quality, value-priced generic medicines. This partnership with the Ontario Government to construct an advanced manufacturing facility will increase Teva Canada’s capabilities and capacity and allow us to retain and grow high-value jobs in Ontario.”– Barry Fishman, President and CEO of Teva Canada Limited
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