Ottawa invests $80 million in Alberta's pharmaceutical sector
The initiative aims to ensure the drug development and production in Alberta. (File photo)
Federal government announces investment of $80 million over 5 years to manufacture essential drugs in Edmonton.
The integrated drug research, development and manufacturing program is led by Applied Pharmaceutical Innovation, a not-for-profit organization, in partnership with the University of Alberta.
The The project includes the construction of a new factory of just over 3,700 square meters which will make it possible to manufacture new medicines, as well as medicines deemed essential. Ultimately, its annual production is estimated at some 70 million doses.
The provincial government says it has already invested $5.6 million in the project, which would have secured federal funding, according to the province.
Alberta has a vibrant and thriving research, development and manufacturing ecosystem to develop and produce a national supply of essential pharmaceuticals that can be commercialized in global markets, says provincial Minister of Technology and Innovation, Nate Glubish, in a press release released Friday.
In the same press release, the federal minister responsible for economic development in the Prairies, Dan Vandal, for his part, maintains that Ottawa hopes to support the innovation and Canadian drug production, in addition to creating jobs in Alberta.
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With information from La Presse canadienne