Valeant to spend $27.5M to upgrade Canadian manufacturing plants
Investments to be made in Manitoba and Quebec.
LAVAL, Que. — Valeant Pharmaceuticals says it will expand its Canadian manufacturing and export capacity by spending a total of $27.5 million on plants in Manitoba and Quebec.
Valeant will also spend $12.5 million on its plant in Laval, Que., where the company’s headquarters is located.
Its new chairman and CEO said earlier this week that he hopes to revive the battered drug manufacturer following a year of “major distractions.”
Joseph Papa took on the leadership role at Valeant about six weeks ago and told the company’s annual shareholder meeting June 14 that he hopes it will one day once again be ranked among Canada’s most valuable companies.