The Quebec government says it's looking to find a buyer for Medicago Inc., the Quebec-based COVID-19 vaccine manufacturer that will be shut down by parent company Mitsubishi Chemical.
Quebec Economy Minister Pierre Fitzgibbon said it's to everyone's advantage to find a buyer for Medicago since it means the current owner, Mitsubishi, can mitigate its losses and Quebec can retain the expertise developed at the vaccine manufacturer.
"We can't operate it ourselves; the government will not be the main shareholder," Fitzgibbon said. "But if there is a pharmaceutical company that considers it's worth continuing, we're ready to help." "The Medicago team has pushed scientific boundaries and we know that they will continue to make incredible contributions to innovation and biopharmaceutical's sector."
On Thursday, Innovation, Science and Industry Minister François-Philippe Champagne told reporters the federal government is in "solution mode." Speaking to reporters on Montreal's South Shore Friday, Fitzgibbon said the company informed the province at the end of December it intended to pull the plug on Medicago.
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Governments seek buyer as Quebec COVID-19 vaccine manufacturer Medicago set to close | Globalnews.caPierre Fitzgibbon said the province has had preliminary talks with potential buyers in the pharmaceutical sector to keep Medicago's expertise and skilled workforce in Quebec.
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