Jubilant announces additional loan facility by Government of Canada for expansion of its CMO Montreal facility
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Noida: Jubilant Pharmova Limited has announced that its subsidiary Jubilant HollisterStier, a Canada-based pharmaceutical contract manufacturing organization (CMO), has received approval from the Government of Canada to provide, through its Strategic Innovation Fund (SIF) program, a partially repayable loan of CAD 23.8 million to fund the CAD 108 million capacity expansion at the Montreal manufacturing facility.
This loan is in addition to earlier announced CAD 25 million loan committed by the Province of Quebec, for the same expansion project. This expansion project is aimed at upgrading the company's Montreal facility and to increase its fill and finish capacity by over 100%. This expansion project of the ~40,000 square feet facility will result in world-class sterile manufacturing site, offering a wide range of fill and finish capabilities with flexibility in dose forms and batch sizes. The state of the art technology and equipment will comprise of high-speed vial filling with an isolator barrier system, freeze drying, and a flex line capable of handling syringes, vials, and cartridges.
Speaking on the announcement, Pramod Yadav, CEO, Jubilant Pharma Limited said, “Jubilant HollisterStier is excited to be chosen as a part of the eco-system being strengthened by Canada to better position the country for its future needs of vaccines and treatments for potential pandemics. This funding will enable our continued efforts to expand our capabilities in Canada and create more jobs.”
“This new agreement is a testament to the contributions made over the last few years by our organization to respond during current pandemic and future pandemics. Jubilant HollisterStier’s expansion will target large Pharmaceuticals and Biotech companies parenteral products as well as feature a flexible manufacturing platform able to produce multiple forms of vaccines, thus addressing a variety of future health emergencies.” shared Chris Preti, President, Contract Manufacturing Organization (CMO), Jubilant HollisterStier.
“Keeping Canadians safe and healthy by making sure they have access to life-saving medicines like vaccines continues to be our priority. With this investment, we are helping Jubilant HollisterStier to upgrade and expand their already impressive Quebec facility. This is a key move to strengthen Quebec’s growing biomanufacturing and life sciences industry, while creating good new jobs and economic growth for Canadians”, said The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry.
“Ambitious companies like Jubilant HollisterStier are positioning Quebec as a world leader in the biomanufacturing and life sciences sector. With projects like today’s, we are supporting the growth of a strategic industry, creating and maintaining good jobs, all while generating wealth here at home”, said the Honourable Pablo Rodriguez, Minister of Canadian Heritage and Quebec Lieutenant.
