Valeant to Upgrade Canadian Plants
CBJ — Valeant Pharmaceuticals will expand its Canadian manufacturing and export capacity by spending a total of $27.5 million on plants in Steinbach, Manitoba and Laval, Quebec.
The plant in Steinbach will receive $15 million by the end of this year. The other $12.5 million will be spent on its plant in Laval, where the company’s headquarters is located.
Its new chairman and CEO said earlier this week that he hopes to revive the battered drug manufacturer following a year of “major distractions.”
Joseph Papa took on the leadership role at Valeant about six weeks ago and told the company’s annual shareholder meeting on Tuesday that he hopes it will one day once again be ranked among Canada’s most valuable companies.