I have not contacted Technilab. I get an area code switch to 450 but have not reached them. Will continue to try this afternoon.
Another article with information already known.
MONTREAL (CP) -- Technilab Pharma announced Tuesday it has acquired the Toronto-based AltiMed Pharmaceutical Co., making it the third largest maker of generic drugs in the world.
Technilab spent $15 million to acquire the company. Technilab shares closed at $11.60 on Tuesday, an increase of $1.05.
Technilab, based in Mirabel, Que., north of Montreal, was founded in 1974 and markets products under the names Technilab, Bio-Chimique, Charton and Rougier.
Its three manufacturing centres in Mirabel, Chambly and Trois-Rivieres employ a total of 350 people. It had more than $54 million in revenues in fiscal 1997-98.
By comparison, AltiMed, which is based in the Toronto suburb of Mississauga, took in more than $100 million in sales.
AltiMed was created in 1996 by the multinationals Hoffmann-La Roche, Pharmacia and Upjohn and Glaxo Wellcome to market generic drugs.
Technilab president Jacques Boisvert said the acquisition of AltiMed will give Technilab a three-year jump in its development plans.
Boisvert said the acquisition allowed Technilab to add 70 products to its catalogue and offer more services to pharmacists. |
