Apotex Enters French Generics Market

17 June 1997

Canadian drug company Apotex has formed a joint venture withExpanscience of France, which focuses on pharmaceuticals and cosmetics, with the aim of breaking into the French generics market.

Apotex will export a variety of generic products to be manufactured at a plant in Toronto that is due to open in 1999. The products will be marketed by the French firm. A report in the Toronto-based Globe and Mail said that Apotex plans to employ around 100 engineers, chemists and specialists in computer systems at the new plant.

Also, Apotex will take an equity stake in Laboratoires Biotherapie, which is controlled by Expanscience. Biotherapie markets five generics and achieved revenues in 1996 of 60 million French francs ($10.3 million).

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