Pharmaceutical facility in Canada acquired

Published: 5-Sep-2001


WellSpring Pharmaceutical Corporation has recently acquired a 101,000 square foot pharmaceutical manufacturing plant in Ontario from Basingstoke, England-based Shire Pharmaceuticals Group.

The facility is located in Ontario, Canada and was given a retrofit in 1998 to meet Good Manufacturing Practices requirements.

The facility produces 22 formulations of prescription and OTC drugs. Under the deal, the two companies have agreed to enter several long-term contracts under which WellSpring will continue to manufacture some drugs for Shire. Also, Shire will sell its entire OTC product line to WellSpring. There are currently more than 70 pharmaceutical workers at the plant and officials said those jobs would be kept intact.

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