Jubilant Pharmova subsidiary secures $17m loan for Montreal plant expansion

Jubilant Pharmova said that its subsidiary Jubilant HollisterStier, a Canada-based pharmaceutical contract manufacturing organization (CMO) has secured a loan of CAD 23.8 million from the Canadian government for the capacity expansion of its Montreal manufacturing facility.

The loan, which will be partially repayable, will be provided through the government’s Strategic Innovation Fund (SIF) program.

Jubilant HollisterStier will invest CAD 108 million towards expanding the capacity of the Montreal manufacturing plant.

The loan adds to the previously announced CAD 25 million loan that was committed by the Quebec government for the same expansion plan.

Pramod Yadav — Jubilant Pharmova’s fully-owned subsidiary Jubilant Pharma CEO said: “Jubilant HollisterStier is excited to be chosen as a part of the eco-system being strengthened by Canada to better position the country for its future needs of vaccines and treatments for potential pandemics. This funding will enable our continued efforts to expand our capabilities in Canada and create more jobs.”

Jubilant HollisterStier’s expansion plan is aimed to improve its Montreal facility and increase its capacity for fill and finish by more than 100%.

The expansion of the nearly 40,000 square feet of space will create a world-class sterile production site, with various options for filling and finishing, as well as flexible dosage forms and batch sizes, said Jubilant Pharmova, an Indian pharma company.

The latest technologies and tools to be incorporated as part of the expansion will consist of high-speed filling vials with an isolator barrier system freeze drying, as well as flex lines equipped to handling syringes, cartridges, and vials.

Chris Preti — Jubilant HollisterStier CMO President said: “This new agreement is a testament to the contributions made over the last few years by our organization to respond during current pandemic and future pandemics.

“Jubilant HollisterStier’s expansion will target large Pharmaceuticals and Biotech companies parenteral products as well as feature a flexible manufacturing platform able to produce multiple forms of vaccines, thus addressing a variety of future health emergencies.”