Patheon Establishes European Headquarters
Patheon, a global provider of drug development and manufacturing services to the international pharmaceutical industry, today announced the opening of its new headquarters for its European operations in Zug, Switzerland, near Zurich.
Patheon establishes European headquarters in Switzerland
TORONTO, Nov. 6 /CNW/ - Patheon (TSX:PTI), a global provider of drug development and manufacturing services to the international pharmaceutical industry, today announced the opening of its new headquarters for its European operations in Zug, Switzerland, near Zurich. The new headquarters will manage the Company's commercial and pharmaceutical development services sales, marketing and customer support activities in Europe. Certain support functions will be managed in Zug as well, such as procurement and supply chain.
"Patheon has grown rapidly in Europe through acquisition and organic growth with sites located in France, Italy, and the UK. Thus far the sites
have operated more independently which is less than ideal for effective and harmonized communications to our clients. By moving key European managers to a regional headquarters and centralizing the key business functions for our operations across all European sites in one distinct location, Patheon will be more nimble to accelerate growth in the region, enhance profitability and ultimately better serve our clients," said Wes Wheeler, Chief Executive Officer and President, Patheon Inc. "Patheon's choice of Zug as the headquarters for our European operations is not a coincidence as the city is already home to the Swiss or European headquarters of many of our pharmaceutical and biotechnology clients. The region has long been well known as the hub of European biotechnology and pharmaceutical innovation."
"We are relocating key European decision-makers from our existing sites in Europe to our new European headquarters in Zug and also intend to recruit positions locally. We expect to employ approximately 25 people in Zug," said Aldo Braca, President of Europe. "The quality, education-level, and accessibility of a multilingual local labor force is very high in Zug. This coupled with its efficient and business friendly administration makes it an ideal location for our European headquarters."
Website: www.patheon.com
The new mailing address for Patheon's European Headquarters is:
Patheon International GmbH
Lindenstrasse 14
6340 Baar
Switzerland
ABOUT PATHEON
Patheon Inc. (TSX: PTI; www.patheon.com) is a leading provider of contract development and manufacturing services to the global pharmaceutical industry. Patheon provides products and services to more than three hundred of the world's leading pharmaceutical and biotechnical companies. Patheon's technologies and services range from pre-clinical development to manufacturing a full array of dosage forms. Their global network of ten manufacturing facilities and seven development centers ensures that customer products can be launched with confidence anywhere in the world.
Caution Concerning Forward-Looking Statements
This news release may contain forward-looking statements which reflect management's expectations regarding the Company's future growth of operations, performance (both operational and financial) and business prospects and opportunities. These statements are made in the context of the risks and uncertainties that are outlined in the Company's public documents, which can be accessed on our website at www.patheon.com or on SEDAR at www.sedar.com.
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