Last fall, Quebec launched specific financial commitments to enhance the growth of the pharmaceutical industry. Now, biopharmaceuticals are booming, thanks in part to the province's investments in companies such as Galderma Pharmaceutical Laboratory.
Galderma, which produces the skin care line Cetaphil, received more than $38 million from Investissement Quebec, the province's investment program, which targets product development projects by Quebec companies. The sum includes a non-refundable $3.8 million financial contribution that will help Galderma modernize and expand its drug manufacturing plant in Bai-d'Urfe.
"The government's support was a decisive factor in Galderma's decision to locate its center of excellence in Quebec," says Michel Sauvageau, manager of the Bai-d'Urfe plant. "In response to the progress of emerging countries in biopharmaceuticals, this investment in our manufacturing facility will increase its capacity and make it truly state-of-the-art."
The funds will also allow Galderma to consolidate 240 positions and create 30 new, specialized jobs.