| On June 29, 2000, ratiopharm GmbH, Europe's largest generic drug company, purchased Technilab Pharma to establish ratiopharm's generic operations in Canada. Long before being acquired by ratiopharm GmbH, Technilab Pharma and its group of companies, enjoyed a rich history and played an important role in the evolution of the Canadian generic industry.
Founded in 1974, with head office in Mirabel, Quebec, Technilab Pharma was a prominent player in the field of generic prescription drugs and over-the-counter medications. As Canada's leading manufacturer of liquid and topical generic drugs, Technilab Pharma marketed a wide range of products under the Technilab, Bio-Chimique, Charton and Rougier brands.
On February 9, 1999, Technilab Pharma acquired AltiMed Pharmaceutical Company of Mississauga, Ontario. Formed in 1996 by Hoffmann-La Roche, Pharmacia & Upjohn and Glaxo Welcome, AltiMed was a generic industry leader and marketed over 70 generic products that generated annual sales of $100 million. With the acquisition of AltiMed, Technilab Pharma's annual sales more than doubled to $160 million. In terms of revenue generated, this acquisition moved Technilab Pharma from 6th to 3rd (among generic drug companies) and from 16th to 4th (among all drug companies) in terms of total number of prescriptions dispensed by pharmacists across Canada.
On May 6, 2002, Technilab Pharma and AltiMed officially became ratiopharm inc. The name change effectively signaled the arrival of the world's fourth largest generic pharmaceutical manufacturer in Canada. Worldwide resources combined with the strengths of an established Canadian company proved to be an unbeatable combination. Today, ratiopharm Canada employs 400 people in its Mirabel and Mississauga facilities and boasts annual sales approaching $300 million.
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