Contract Pharmaceuticals Limited and its associated companies, based in Mississauga, Ontario, and specializing in the development, manufacturing, packaging, and testing of non-sterile liquid and semi-solid pharmaceuticals, as well as regulated over-the-counter products, have obtained CCAA protection as of December 15, 2023. These companies, which supply major clients such as Johnson & Johnson and Pfizer, reported facing a critical liquidity crisis with liabilities surpassing $50 million. Employing around 300 people, they aim to utilize the CCAA proceedings to secure additional financing, further their restructuring plans, and explore options for refinancing, selling, and soliciting new investments.

KSV has been appointed as the monitor for the proceedings. Legal representation includes Goodmans for the companies, Cassels for the monitor, Chaitons for Export Development Canada (EDC), Aird & Berlis for the Royal Bank of Canada (RBC), and Bennett Jones for Deerfield Management, which serves as the Debtor-in-Possession (DIP) lender.