Pharmascience

Founded by the pharmacists Morris Goodman and Ted Wise in 1983, Pharmascience is a leading manufacturer of generic and branded drugs in Canada.

Pharmascience Inc.
Private
IndustryPharmaceutical
Founded1983
FoundersMorris Goodman, Ted Wise
HeadquartersMontreal, Quebec, Canada
Key people
David Goodman, CEO
ProductsGeneric & Branded Drugs
Number of employees
1,600[1]
Websitepharmascience.com

Pharmascience Inc. is a full-service privately owned pharmaceutical company with strong roots in Canada and a growing global reach with product distribution in over 60 countries. Ranked 47th among Canada's top 100 research and development (R&D) investors with $56 million invested annually, Pharmascience Inc. is the 10th largest pharmaceutical company in Canada. Pharmascience Inc. is a leading manufacturer and marketer of prescription; generic, over-the-counter, and behind-the-counter products as well as FDA approved Canadian-made injectables. With over 1600 employees, Pharmascience Inc. is the largest pharmaceutical employer in Quebec and commercializes nearly 400 product families in 20 different dosage forms for over 2,000 products. In Canada alone, more than 45 million prescriptions a year are filled with Pharmascience products. Pharmascience Inc. has strong long-standing philanthropic ties with its communities, both locally and internationally. For more than 20 years, Pharmascience has been working through Health Partners International of Canada (HPIC) as the partner of choice to increase access to medicine. Pharmascience's total donations of essential medicine, is close to $60 million.

The R&D laboratory and production facilities are located in Montreal, Quebec as well as two offices abroad (Ukraine, Vietnam).

History

1983 Founded by two Montreal pharmacists (Morris Goodman and Ted Wise). R&D activities began with 5 employees.

1988 Acquisition and workplace planning of drug production facility in Montreal.

1994 Establish Eastern European Business Office in Kiev, Ukraine.

1996 Investment of CAD$3 million in the creation of modern research laboratories of a pilot production plant in Montreal.

1998 Investment of CAD$8 million in the acquisition of a building to set up head office, administrative business headquarters and operational facility in Montreal.

1999 Investment of CAD$3 million for construction of an ultra-modern distribution centre, opposite the head office in Montreal.

2000 Establishment of a government partnership (Investment Quebec and Employment Quebec).

2001 Investment of CAD$150 million in a major expansion project.

2003 Investment of CAD$12 million to acquire Pangeo, a Quebec pharmaceutical company, and to hire approximately 125 employees.

2007 Opened Vietnam Representative Office.

2008 Pharmascience celebrates its 25th year of operations.

2011 Investment of close to CAD$40 million: Inauguration of new facilities in Montreal and creation of 180 jobs.[2] Acquisition of Aegera Therapeutics, a Montreal-based clinical-stage biotechnology company; the president and chief executive officer of Aegera was Michael Berendt.[3]

2012 Class A Certification – Operational Excellence.

2014 Acquisition of Uman Pharma Inc., a fully integrated company that develops, manufactures and markets generic injectable.

Morris Goodman

Morris Goodman graduated from the Université de Montréal as a licensed pharmacist at the young age of 21. He co-founded with Ted Wise Pharmascience Inc. in 1983 with three staff members on their payroll and managed to reach $650,000 of gross sales in the first year of business. As a young pharmacist the enterprising Dr. Goodman started manufacturing and distributing pharmaceutical products under his own business the Winley-Morris group. In 1971, having great success and growth with his company, he got an offer, from an American company, to buy his enterprise and Winley-Morris group became ICN. With Morris Goodman as CEO of this new company, he was once again in a position to develop many new, innovative, and much needed medicines for all Canadians. After 11 successful years at ICN, it was decided that Mr. Goodman and ICN would part ways, he decided to create Pharmascience Inc. Today Pharmascience employs over 1,600 employees and has recorded sales of more than $700 million in this last fiscal year.[4]

Ted Wise

Ted S. Wise is a pharmacist by profession. Mr. Wise holds a Bachelor of Science in Pharmacy from the University of British Columbia and Licentiate in Pharmacy in Québec. He has more than forty years of experience in the pharmaceutical industry. He worked at Ayerst Laboratories, Winley-Morris Ltd. and ICN Canada. He was primarily responsible for the marketing, sales and business development of the Innovative Business Unit. In 1981, he left ICN as its Executive Vice-President of Marketing and Sales. Mr. Wise co-founded Pharmascience Inc. in 1983 and also served as its President and Vice-Chairman. He has been the Chairman of the Board and Independent Director of Paladin Labs Inc. since 1995.[4]

David Goodman

Dr.Goodman is the Chief Executive Officer of Pharmascience Inc. He holds a B.Sc. degree in Commerce from McGill University and a Ph.D. in pharmacology from the University of Virginia. Upon graduation, he began his career at Pharmascience in Business Development and gained significant experience in progressively senior International and domestic roles. Under Dr. Goodman's leadership, Pharmascience has gone from being a strictly Canadian company to becoming an important player on the global stage, with worldwide sales now in excess of $700 million – a growth rate of 12.2% over the past five years (2007–2011).[4]

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References
  1. "Pharmascience in Brief". Pharmascience. Retrieved 23 June 2015.
  2. Invest Quebec
  3. Slatko, Joshua (December 2013). "BMS changes senior management team". People on the Move: Pharma. Med Ad News. p. 27.
  4. Pharmascience in Brief
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