Prince Edward Island has been named as a key research centre for the aqua health business of a leading global animal health company, according to Michael Currie, Minister of Development and Technology.
Aqua Health Ltd., a subsidiary of Swiss-based Novartis Animal Health, announced the establishment of a new laboratory by expanding existing vacant space in their building in Victoria, Prince Edward Island. This new lab space will accommodate a dedicated research and development testing facility for marine and fresh water species. It will also create four new employment opportunities.
Minister Currie recently toured the new facility in Victoria, Prince Edward Island.
“Selecting PEI as one of five sites for Novartis’s research and development centres speaks volumes about our research and development capabilities in this province,” said Minister Currie. “Our government is a major partner in the research and development process, and the addition of the Novartis global research and development centre will only enhance the number of innovative products being produced in PEI. Government remains committed to diversifying our economy and creating employment for Islanders.”
Novartis Animal Health researches, develops and commercializes leading animal treatments that meet the needs of pet owners, farmers and veterinarians. Headquartered in Basel, Switzerland, and present in almost 40 countries, Novartis Animal Health employs 2,200 people worldwide and achieved sales of USD 756 million in 2004.
Kira Salonius, head of research and development for Novartis Animal Health’s aquabiologics division, said that the fact that the company is expanding in PEI underscores its commitment to the province and to the business base it has created here.
“Novartis recently clarified the future structure of our research and development operations around the world,” said Salonius. “Research and development is an essential contributor to the overall growth performance of our business by continually introducing new and better products. We have received excellent support from the Government of PEI and we are impressed with the caliber of research and development resources available in this province.”
The Government of Prince Edward Island provided $150,000 through its Innovation and Development Tax Credit Program towards the research and development lab. The capital cost to construct this research and development facility will be approximately $1.6 million.
PEI Business Development Inc. works with businesses in Prince Edward Island to strengthen and expand our provincial economy though business development. Adding value and generating wealth, PEI Business Development offers a diverse range of programs and services to Island-based businesses.