TEL AVIV, Israel, Jan. 28, 2021 (GLOBE NEWSWIRE) — Bioblast Pharma Ltd. (Nasdaq:ORPN) is to open new production line in Vancouver, British Columbia. The Israeli pharmaceutical company has been on the market since 2003, steadily growing domestically and overseas, with its 5 plants scattered around the south of India, China and Turkey. According to Warren Wasiewski, MD, Bioblast’s Chief Medical Officer, it was time for the company to set its sights on the Western market, especially given the history of long and successful cooperating with the drugstore chains that have always been a major part of the distribution network for the company.
The launch timeline
The new production line is scheduled to be opened by the third quarter of 2021, with the works being in progress, although with occasional delays caused by the current global situation. The company’s officials plan to dedicate the new production line entirely for manufacturing antihistamines, dietary supplies and men’s health medications. The quality assurance systems will be implemented in place, with the approval and licensing of the local authorities, which is expected to be completed by June 2021.
Anticipated savings for the logistics
According to the company’s officials, this will save the company an average of $1,6 million per quarter in shipping fees, and will create upwards of 10,000 work places.
The first batch of Bioblast Pharma products is scheduled for Dec. 2021, and as of that time, the company expects to be covering all the needs for distribution in the markets of Canada and U.S.
Bioblast Pharma is a biotechnology company committed to developing clinically meaningful therapies for patients with rare and ultra-rare genetic diseases with a lead drug candidate, trehalose 90mg/mL solution, in Phase 2 development, as well as producing generic medications of high quality. Bioblast was founded in 2012 and is traded on the NASDAQ under the symbol “ORPN”. For more information, please visit our website, bioblastpharma.com/product/sildenafil-citrate, the content of which is not incorporated herein by reference.