Teva Pharmaceuticals will invest nearly $54 million to expand its Stouffville, Ontario production facility. The company will be able to hold onto 182 existing employees and hire an additional 20 workers from a more than $6 million grant from Ontario.
“Teva’s high potent product manufacturing facility expansion in Stouffville, Ontario will enable use to secure Canadian and export mandates for high-quality, value-priced generic medicines,” said Barry Fishman, president and CEO of Teva Canada Limited. “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.”
The same day the expansion was announced, Ontario Premier Dalton McGuinty met with scientists from Israel’s Weizman Institute of Science to discuss new partnership opportunities. Among the Institute’s research are ways to eliminate famine.
“Teva Pharmaceuticals is a perfect example of the kind of partner we’re looking for in Israel,” McGuinty said.
