The Quebec government says it's looking to find a buyer for Medicago, the Quebec-based COVID-19 vaccine manufacturer that will be shut down by parent company Mitsubishi Chemical.
Quebec Economy Minister Pierre Fitzgibbon said Friday the province has had preliminary talks with potential buyers in the pharmaceutical sector to keep Medicago's expertise and skilled workforce in Quebec. He said both the Quebec and federal governments would be willing to put in money to secure a deal.
The Japanese chemical company said it had been preparing to commercially produce the Covifenz vaccine but decided against doing so because of the"significant changes" in the COVID-19 vaccine environment. The company said it would dissolve Medicago because it is no longer"viable" to continue marketing its products.
Canada invested $173 million in Medicago in 2020 to support development of the Covifenz vaccine and help Medicago expand its production facility in Quebec City.
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