Important update about the Boucherville plant and development center acquired by Avara

It is with great satisfaction that we are now advising that the Superior Court of Quebec decided to grant Sandoz Canada the right to buy back the Boucherville site, which has been under receivership as an interim measure to maintain continued operations. The anticipated transaction will be concluded with the Receiver within a few months. We believe we are currently best positioned to supply without interruption the hospitals in Canada and USA with the products they need for their patients.

Sandoz Canada is committed to bringing stable operations management back in the site, as well as the support and rewarding work environment the employees need as they continue to work on producing Sandoz high-quality, injectable medicines Canadian patients, their healthcare professionals and our customers rely on. We are considering the possibility of selling the site in the future to a qualified buyer in order to ensure its long-term sustainability.