MONTREAL--(BUSINESS WIRE)--April 1, 2002--Ahmad Doroudian Ph.D., Chairman and CEO of PanGeo Pharma Inc. (TSE:PIL), announced today that on March 28, 2002 the Company completed its acquisition of Quest Consumer Health Care from Boehringer Ingelheim (Canada) Ltd. for $14 million in cash. As previously announced, PanGeo acquired the Quest brand, a cGMP manufacturing plant, the contracts to manufacture product for Boehringer Ingelheim for distribution in the United States and to distribute Pharmaton products for Boehringer Ingelheim in Canada.
With the acquisition of Quest, PanGeo will have approximately 500 employees across Canada with over 300,000 sq. ft. of manufacturing and distribution facilities.
PanGeo Pharma Inc. is a specialty pharmaceutical company with core competencies in pharmaceutical manufacturing. The company manufactures and supplies a range of specialty pharmaceuticals and pharmaceutical services to international markets. The Company employs over 500 people working in 8 affiliate companies internationally.