Jubilant Pharmova's Radiopharma business invests CAD 94.5 million to double RUBY-FILL® capacity.
Jubilant Pharmova's Radiopharma business will invest CAD 94.5 million to double production capacity of RUBY-FILL® at its Quebec facility. The Government of Canada will support this with CAD 23.8 million. This expansion addresses strong demand and enhances nuclear medicine capabilities.
The investment is substantial and targets a specific product line's capacity, which is expected to boost revenue and market share, but it's focused on one business segment.
The announcement details a significant investment to expand production capacity, driven by strong demand for a key product, indicating positive business growth and strategic development.
Jubilant Pharmova Limited announced that its Radiopharma business is investing CAD 94.5 million to modernize and expand its Kirkland, Québec facility. This investment aims to double the production capacity of its flagship product, RUBY-FILL®.
The Government of Canada will provide financial support of CAD 23.8 million for this project through the Strategic Response Fund's innovation funding stream. The company has experienced a doubling of its customer base for RUBY-FILL® over the past three years, necessitating this expansion to meet growing global demand.
Harsher Singh, CEO of Jubilant Radiopharma, stated that this investment underscores the business's innovation capabilities in Nuclear Medicine and its role in advancing diagnostic and therapeutic treatments. The expansion will enhance capabilities in Quebec, create high-value jobs, and ensure a reliable supply of radiopharmaceutical products.
Jubilant Radiopharma's portfolio includes diagnostic and therapeutic solutions for cardiology, oncology, and nuclear medicine. RUBY-FILL® is used for on-site production of Rubidium-82 for cardiac PET imaging, and the Technetium-99m diagnostic portfolio supports SPECT imaging. The Kirkland facility is the sole producer of these product categories in Canada. The investment will facilitate the installation of state-of-the-art production equipment to meet increased global demand.
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