Forgot your account information?  |  Create a CME account

Valeant manufacturing expansion a Canadian reshoring success

Published by Bryant McNamara on June 14, 2016

Canadian Manufacturers & Exporters congratulates Valeant Canada on its $27.5 million commitment to expand manufacturing operations in Canada.

"Over the past week, Valeant has announced a series of important investments in its Canadian technology development and manufacturing facilities that will allow the company to grow its high-value production operations in Canada. It will create high-paying jobs as a result, and provide benefits for all Canadians," said CME President & Chief Executive Jayson Myers.

Valeant has announced that it is investing $8 million to transfer two new pharmaceutical technologies to its state-of-the-art manufacturing facility in Steinbach, Manitoba, and another $7 million to upgrade product manufacturing technology to ensure the robust security of products through international distribution channels. The company will also invest $12.5 million to transfer a new product line and upgrade manufacturing systems at its headquarters facility in Laval, Quebec to help boost exports.

"These recent announcements demonstrate Valeant's strong intention of growing its manufacturing base in Canada and using it to export important health products," said Jacques Dessureault, president and general manager of Valeant Canada. "We are proud to be a Canadian-headquartered company. Our Steinbach and Laval facilities play a critical role in advancing healthcare technology both in Canada, and around the globe."

Since 2012, Valeant has invested $390 million in capital and wages in Laval and Steinbach.

Canadian Manufacturers & Exporters' return on investment formula calculates Valeant's investment in capital and wages in Laval and Steinbach has added a $1.4 billion net benefit the local economy.

"Valeant's investments not only show its commitment to Canada," says Myers. "They are evidence that Canada is home to a dynamic advanced manufacturing sector that can compete for investments and product mandates on a worldwide basis."

Since 2012, Valeant has transferred 27 products to their Steinbach facility, and 67 products to their Laval site for manufacturing, totalling 94 products. Each day, approximately 75 people per second around the world use a product that was manufactured in Valeant Canada's Steinbach and Laval sites.

"Our economic future, and the prosperity of each and every Canadian, depends on our ability to grow our manufacturing and exporting industries," said Myers. "Valeant is helping to lead the way."

CME member Valeant Canada is a subsidiary of Valeant Pharmaceuticals International Inc., a multinational specialty pharmaceutical company that develops, manufactures, and markets a broad range of pharmaceutical products, primarily in the areas of dermatology, eye health, cardio-metabolic, and neurology. More information about Valeant Canada can be found at www.valeantcanada.com.

 

Found in: Canadian Manufacturers & Exporters

National Office

Alberta British Columbia
Manitoba New Brunswick
Newfoundland & Labrador Nova Scotia
Ontario Québec
Prince Edward Island Saskatchewan