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Teva invests in Ontario, Canada

Teva is investing £37 million to expand its Stouffville production plant and Ontario is providing a £4.25 million grant to Teva Canada, which will retain 182 workers and hire 20 more.

The partnership was announced on the same day Ontario Premier Dalton McGuinty and other members of the Ontario delegation met with scientists at Israel's Weizmann Institute of Science to explore opportunities for new partnerships and investment. The institute works on finding new ways to fight hunger and disease, math and computer science research, and pure physics.

  • Teva Canada’s parent company, Teva Pharmaceutical Industries Limited, employs 35,000 people around the world.
  • Ontario's life sciences industry employs more than 40,000 people at approximately 850 companies with revenues of £10 billion a year.
  • Ontario is home to 25 research and academic hospitals employing 10,000 scientists and researchers.
  • The Weizmann Institute of Science is home to 2500 scientists, students, technicians and support staff.

‘Teva Pharmaceuticals is a perfect example of the kind of partner we're looking for in Israel. This is a country where scientists and academic leaders have figured out how to turn today's ideas into tomorrow's new investments. We're here to learn and promote the benefits of doing business with Ontario's life sciences companies,’ said McGuinty.

‘Teva's High Potent Product Manufacturing Facility Expansion in Stouffville, Ontario will enable us to secure Canadian and export mandates for high-quality, value-priced generic medicines. 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,’ said Barry Fishman, President and CEO of Teva Canada Limited.

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