JAMP Pharma Group acquires a mfg. facility in Lévis, Que.
by CM Staff
JAMP Pharma Group acquires the manufacturing operations of this plant at a time when governments, customers, and partners are calling for more local procurement solutions.
Manufacturing Plant Located in Lévis, Quebec (CNW Group/JAMP Pharma Group)
BOUCHERVILLE — JAMP Pharma Group, a company in the Canadian pharmaceutical industry, announces that subject to Superior Court approval and the fulfillment of customary closing conditions, the acquisition of the assets of Pharmalab’s manufacturing facility in Lévis, which ceased operations in August 2023.
JAMP Pharma Group acquires the manufacturing operations of this plant at a time when governments, customers, and partners are calling for more local procurement solutions. Currently, only 12% of pharmaceutical products consumed by Canadians are made domestically. This acquisition thus strengthens the Canadian supply chain and contributes to addressing drug shortages, an issue that was particularly highlighted during the pandemic.
“For several years, healthcare professionals and patients have had to deal with inventory shortages. Our ambition was to bolster the local manufacturing capacity to facilitate access to affordable medicine and healthcare solutions. This is a significant milestone for Quebec and Canada. In addition to positively contributing to the creation of wealth in Quebec, JAMP Pharma Group becomes one of the largest Canadian-owned pharmaceutical companies,” said Louis Pilon, President and CEO of JAMP Pharma Group.
The company plans to make substantial investments in research and development to bring new product formulations to market and ensure the continuous supply of several new generic products. This acquisition will enable the company to repatriate the production of tablets, capsules, oral liquids, and oral powders to Canada. This production autonomy will allow JAMP Pharma Group to enhance its level of service to its customers and partners while ensuring continuity in patient treatments.
The integration of the plant – spanning over 100,000 square feet – into JAMP Pharma Group’s operations will be gradual. An assessment of the facilities and equipment will be conducted to ensure the plant meets the highest industry standards. The need for skilled labour will also be studied; JAMP Pharma Group aims to hire a significant portion of the 250 former Pharmalab employees, adding them to its current workforce of over 700 employees.
“This recent acquisition by JAMP Pharma Group demonstrates its leadership in the Canadian generic drug industry and its commitment to the economic development of Quebec. Fonds de solidarité FTQ is proud to have supported the growth of this Canadian flagship since 2016 and continues to support the company in its future endeavours,” said Patrice Jolivet, Vice-President, Investments – Agri-Food and Health at Fonds de solidarité FTQ.
