Brazil pushes drug self-sufficiency in new pact

Canada's ProMetic Life Sciences has signed a $19 million pact with Brazil's Instituto de Tecnologia do Parana to transfer production of a neuro-denerative drug to the South American country. ProMetic gains $9 million plus royalty income while $10 million is reserved for modifying the Instituto's drug making facilities. The deal comes under a program that Brazil has pushed to become self-sufficient in the production of many high-value pharmaceuticals.

"This will lead to creation of a center of excellence in Brazil from which more specialized drugs will eventually be made with major cost savings. The potential is great because of Brazil's large population and growing affluence," said ProMetic CEO Pierre Laurin.

- here's the report from the Montreal Gazette

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