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news.Teva Canada has signed an agreement to sell its Mirabel manufacturing facility in Quebec to Halo Pharmaceutical, a contract manufacturing organization.
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The sale is expected to close on 30 June 2012 and the financial terms of the agreement have not been disclosed, the Canadian Business reported.
Halo plans to develop its commercial contract manufacturing business at the plant where approximately 150 employees will continue to work.
The agreement is subject to approval by the Competition Bureau as well as other agreements between Teva Canada and Halo and manufacturing permits from various authorities.