Juno Pharmaceuticals Canada has acquired Omega Laboratories, a leading domestic specialty injectable pharmaceutical manufacturer, making it one of the largest specialty generic injectable businesses in Canada. The acquisition strengthens Juno’s position in improving drug supply and expanding its product range while supporting the domestic market. Juno plans to bring over 100 new pharmaceutical products to Canada, addressing drug shortages and enhancing self-sufficiency in the healthcare system. The partnership combines Omega’s manufacturing expertise with Juno’s commercial strength, aiming to establish a formidable presence in the pharmaceutical industry and expand into new markets.
Today, Juno Pharmaceuticals Canada (“Juno”), a leader in the commercialization of specialty pharmaceuticals, announced the acquisition of Omega Laboratories (“Omega”), one of Canada’s largest domestic specialty injectable pharmaceutical manufacturers. The new combined company is now one of the largest specialty generic injectable businesses in Canada with domestic manufacturing capabilities.
“We are proud of this acquisition that solidifies Juno’s ability to improve drug supply with medications that are critically needed to support our healthcare system,” said Mark Mantel, CEO of Juno. “We are Canadian owned and operated and will continue to support our domestic market while expanding into new geographies with dependable and high-quality Canadian-made pharmaceuticals.”
Powered by Omega’s recently opened Health Canada and U.S. FDA approved injectable manufacturing facility and strengthened by Juno’s robust commercial network and product development pipeline, Juno will quickly bring an expanded array of critical pharmaceutical products to life and into the hands of medical practitioners and patients. Over the next four years, Juno expects to bring over 100 new products to the Canadian market with key expansions in pain management, oral solutions, allergy vaccines, diabetes & weight-loss and in addition, launch unique offerings in the dental, cosmetic, and animal health sectors.
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This partnership comes at a critical time as Canada’s vulnerability to the global market continues to have repercussions for efficiency and access to critical pharmaceuticals, as supply channels remain pinched post-pandemic. By bolstering domestic manufacturing capabilities, Juno will aid in bringing stability to Canada’s healthcare system while providing immediate relief for many of the drug shortages presently facing patients, as well as preventing future shortages.
“Combining Omega’s manufacturing expertise and Juno’s commercial strength, we are creating a formidable player within Canada’s pharmaceutical industry, with plans to expand our reach into other markets with our high-quality medications,” said Bruce Levins, COO of Juno. “We are committed to serving Canadians by investing in domestic production, protecting and adding local jobs and creating a system of self-sufficiency when it comes to our domestic pharmaceutical market.”
Juno plans to bring multiple new products to Canada, establishing itself as the fastest-growing domestic specialty pharmaceutical business.
Bloom Burton Securities Inc. served as financial advisor and Aird & Berlis LLP acted as legal counsel to Juno in connection to the acquisition.
Source: BioSpace
