Pharma company to build vaccine research center on its Laval, Canada site.

2003 JAN 8 - (NewsRx.com & NewsRx.net) -- Shire Pharmaceuticals Group, plc, (SHPGY) announced that it will invest approximately US$18.5 million in the construction of a new global vaccine research center in Canada.

This center will support the company's biologics business and will be located at Shire's current site in Laval, Quebec. The project will begin immediately with completion planned for midyear 2004.

Richard de Souza, Shire director of international, said: "This investment decision serves three purposes. It recognizes the significant progress made by our biologics research team in bringing forward candidate projects for clinical development and it reinforces our commitment towards building presence in the important vaccines market. Our decision also serves to underpin Shire's strategic aim of becoming an even more significant player in the global vaccine market which is expected to grow from US$5 billion annual sales to more than US$10 billion sales within the next 5 years."

Shire's decision to build the new vaccine research center in Laval, Quebec, is in line with its strategy of further developing this area of its business. The company recently announced an alliance with Berna Biotech through which Shire will manufacture and supply its FLUVIRAL influenza vaccine to Berna Biotech for sale in international territories excluding Europe and North America. In return, Berna Biotech will manufacture and supply its ...