Charlottetown-based drug-manufacturer BioVectra Inc. on Monday announced a five-year, $144.6 million expansion project in its facilities on P.E.I. and in Windsor, N.S.
The company issued a statement saying the funding will include a $37.5 million contribution from the federal government’s Strategic Innovation Fund – the fund’s largest financing ever in Atlantic Canada.
BioVectra is a contract drug manufacturer for major pharmaceutical clients, including most of the top 20. Founded in 1970, the company was purchased in 2013 by Questcor Pharmaceuticals of Anaheim, Calif., for $100 million,