Pharmascience

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Pharmascience Inc.
Type Private
Industry Pharmaceutical
Founded 1983
Founders 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 by the pharmacists Morris Goodman and Ted Wise in 1983, Pharmascience is a leading manufacturer of generic drugs in Canada.

As a privately owned company, Pharmascience's annual sales exceed CAD$700 million and employ more than 1,300 people. Investment in research and development at Pharmascience amounts to CAD$30 million annually. In fact, Pharmascience has been among Canada's top 100 corporate R&D spenders since 2006.[1]

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

History[edit]

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.

2012 Class A Certification - Operational Excellence.

Morris Goodman[edit]

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, so at the young age of 52, he decided to create Pharmascience Inc. Today Pharmascience employs over 1300 employees and has recorded sales of more than $700 million in this last fiscal year.[3]

Ted Wise[edit]

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.[3]

David Goodman[edit]

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).[3]

External links[edit]

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