Source: YorkRegion.com
A forest has sprung up near the heart of Vaughan’s future downtown core, but not the kind with trees.
Pharmaceutical company Forest Laboratories Canada Inc. celebrated the opening of its new headquarters on Applewood Crescent, just north of Hwy. 7 and east of Hwy. 400, late yesterday afternoon.
“In general, the pharmaceutical industry is declining in Canada, significantly, due to patent losses,” general manager Greg Engel said. “We’re one of the rare companies that’s actually hiring and expanding and growing and investing right now.”
The company, a subsidiary of United States-based Forest Laboratories Inc., focuses on products dealing with cardiovascular disease, gastroenterology, mental health and respiratory disease.
It chose to set up shop in Vaughan because the city is growing quickly, attracting a lot of companies and is centrally located, Mr. Engel said.
“It has great access from a highway perspective and great services overall,” he said. “It really has allowed us to attract (employees) from across the GTA. That’s been a huge plus for us.”
Forest Laboratories Canada currently employs 36 people, but anticipates strong growth in the near future, possibly adding another 100 employees over the next 12 to 18 months.
“The majority of those are high-level, professional jobs,” Mr. Engel added. “These are quality, full-time jobs.”
The company, which boasts strong involvement in research and development, currently has nine studies underway at 100 sites across the country.
“We felt we had a unique mixture of products to bring to the Canadian market to help Canadians, to really answer an unmet need, and we felt the environment was such, in terms of the marketplace, that it really presented a really strong business case,” Mr. Engel said.
“Canada is all about certainty on the approval process, on the reimbursement structure and on how to access the market.”
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The Regional Municipality of York is located in the heart of the Greater Toronto Area and is home to 1.1 million residents and 42,000 business establishments, making it one of Canada’s largest municipalities and the second largest business centre in the Province of Ontario.
Comprised of nine local municipalities, York Region is a premier business location in Canada. The Region is home to operations of 14 Fortune 100 companies, four of Canada’s top 10 corporate R&D investors, Canada’s second largest Information & Communications Technology (ICT) cluster and global industry leaders in Life Sciences, CleanTech, Financial Services and Advanced Manufacturing.
As Canada’s fastest growing large municipality, York Region has one of the most educated and diverse workforces in North America, the lowest commercial property taxes in greater Toronto and an exceptional quality of life attracting top global talent.
York Region’s local municipalities include the City of Markham, the City of Vaughan, the Town of Richmond Hill, the Town of Newmarket, the Town of Aurora, the Town of Whitchurch-Stouffville, the Town of East Gwillimbury, the Town of Georgina and the Township of King.