| Type | Private |
|---|---|
| Industry | Pharmaceutical |
| Founded | 1983 |
| Founder(s) | Morris Goodman and Ted Wise |
| Headquarters | Montreal, QC, CAN |
| Key people | David W. Goodman, CEO |
| Products | Generic medicines |
| Employees | > 1,300 |
| Website | http://www.pharmascience.com |
Founded in 1983, Pharmascience is a Canadian pharmaceutical company that employs over 1300 people. The third largest pharmaceutical firm in Canada in terms of the number of prescriptions, it sells its products in over 60 countries and posted sales of more than $700 million. It specializes in developing and marketing a wide range of generic and innovative quality products, available by prescription, OTC and hospital. Pharmascience has distinguished itself over the years due to its continued growth. It invests $30 million annually in research and development. In 2011, $40 million was invested to expand its facilities. It also acquired Aegera Therapeutics Inc., a company in the biotechnology sector. These milestones in the history of Pharmascience demonstrate the will of the company to diversify its activities and ensure its long-term growth.
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Pharmascience Inc. was founded by two licensed pharmacists, Morris Goodman and Ted Wise in 1983 to provide affordable medicines to Canadians. They had no factory, staff, product, or distributors, and very little money at that time. More than 25 years later the company had become one of the top pharmaceutical companies in Canada, employing over 1,300 people.
Phamascience has distribution agreements in more than 30 countries and has sales offices in New York, London, Kiev and Moscow.[1]