Upjohn Pulls Out Of Canadian Manufacturing
US drugmaker Upjohn has sold its Canadian pharmaceutical manufacturing business to two of its managers, Nick Shkordoff and Myron Junyk, who own 52% of Global Pharmaceuticals which is buying the Upjohn unit; over-the-counter drugmaker Patheon Inc holds the remaining 48% stake in Global.
At the same time, Upjohn has entered into an agreement with Global for the latter to produce Upjohn products under contract for the Canadian market.
Terms of the deal are not disclosed, but it is reported that 91 of the 100 Upjohn Canada employees will be offered jobs with Global. Upjohn Canada will continue to employ sales and marketing personnel and around 40 R&D staff.
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