MediPharm Labs has canceled the sale of its Napanee facility to Kensana Health after the buyer failed to meet agreed terms on time. The deal was originally set to close through the sale of MediPharm’s subsidiary, ABcann Medicinals Inc.
The company announced it has officially terminated the purchase agreement and will retain non-refundable deposits from Kensana Health. Despite the failed transaction, MediPharm says its current commercial agreements and operations at the Napanee facility will continue without interruption.
MediPharm remains focused on expanding its international business, leveraging its Barrie and Napanee locations to meet rising global demand for its pharmaceutical products. CEO David Pidduck stated that growing international revenue was key to the company’s success in 2024 and will remain a priority in 2025.
Written by Emily Chatwood
