Toronto, October 5, 2012 – The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, announced the opening of three new Apotex scientific offices today during a trade mission to Saudi Arabia and Jordan.
Apotex opened the offices in Jeddah, Riyadh and Dammam to meet the growing demand for high quality affordable generic pharmaceuticals manufactured in Canada.
“We are pleased with Apotex’s success in the Saudi
market,” said Minister Fast. “Canadian companies that
succeed outside of Canada create jobs and increase prosperity both abroad and at home.”
Currently, the three Apotex sites are operating with 41 new employees with plans to expand these numbers in the future. Sales are estimated to grow quickly. The Saudi government is offering a strong environment to attract direct foreign investment with the objective to expand employment opportunities in the country and trade.
“The Saudi market is the largest in the Middle East and presents an attractive business opportunity.” stated Mark Heselton, President of Apotex International. “The expansion of the international trade market for Canadian companies like Apotex is essential to maintain our strategic growth plans. We support the Canadian Conservative government’s agenda to reduce trade barriers and expand markets.”
“The generic pharmaceutical industry is Canada’s life sciences success story,” said Jim Keon, President of the Canadian Generic Pharmaceutical Association (CGPA). “The industry operates most of the pharmaceutical manufacturing capacity in Canada, and timely access to global markets is essential to sustain our vibrant value-added manufacturing industry. The generic pharmaceutical industry supports the Government of Canada’s efforts to eliminate tariff and non-tariff barriers, and to expand trade opportunities for Canadian-made products.”
Apotex is the largest Canadian owned pharmaceutical company with over 6,000 employees. Globally it has another approximately 1,500 employees with estimated sales of approximately $1.5 billion. It produces 300 medicines in 4,000 dosages and formats that are exported to 115 countries. It has 600 products under development and will spend $2 billion over the next 10 years on research and development.
About the Canadian Generic Pharmaceutical Association
The Canadian Generic Pharmaceutical Association (CGPA) represents Canada’s generic pharmaceutical industry. The industry plays an important role in controlling health-care costs in Canada. Generic drugs are dispensed to fill 60 per cent of all prescriptions but account for only 25 per cent of the $22-billion Canadians spend annually on prescription medicines.
For more information, please contact:
Director of Public and Government Affairs
Tel: (416) 749-9300 Ext. 7366
Mobile: (416) 558-5491
Vice President, Corporate Affairs
Canadian Generic Pharmaceutical Association (CGPA)
Tel: (416) 223-2333
Mobile: (647) 274-3379