Voyageur Pharmaceuticals Ltd. (TSX-V: VM) (OTC Pink: VYYRF) announced it is evaluating three potential locations in the United States for its planned integrated iodine and barium contrast drug manufacturing facility. The company is completing a comprehensive technical, regulatory, economic, and logistical analysis of candidate sites. Key evaluation criteria include proximity to iodine brine sources, which are expected to support an estimated +70% of future revenue, logistics, infrastructure, access to skilled labour, and the strength of government incentive packages.
Voyageur is actively engaging with economic development authorities across multiple U.S. jurisdictions. The final site will be selected based on the most attractive overall combination of factors, with a strong emphasis on the incentive and support packages offered. This competitive process is designed to optimize project economics and accelerate development timelines. Strong candidate locations have been identified in the States of Oklahoma and Texas due to their compelling attributes, including proximity to Voyageur’s iodine extraction initiatives in Oklahoma’s Anadarko Basin, robust transportation infrastructure, access to skilled labour and abundant municipal water supply, reliable infrastructure and a competitive business climate with low taxes, cost-effective land and energy, and strong local, state, and federal incentives supporting advanced manufacturing, pharmaceutical and API production, critical minerals processing, and strategic supply chain onshoring.
The pharmaceutical manufacturing facility will receive concentrated iodine liquor produced through Voyageur’s proprietary closed-loop Streamlined Iodine Process directly from its Oklahoma brine operations, together with high-purity barite from the Frances Creek project. Unlike conventional contrast media manufacturers that depend on imported iodine flakes or intermediates and energy-intensive synthetic precipitated barium sulfate, this integrated GMP campus will combine on-site iodine-to-API synthesis with barite upgrading into USP-grade material and sterile injectable manufacturing. Management believes this will deliver the first fully domestic, vertically integrated supply chain for both iodinated and barium contrast agents at materially lower cost, with superior sustainability and supply security for U.S. hospitals, government customers and for international distribution.
Key anticipated project highlights include cost leadership through vertical integration, significant opportunities for U.S. federal and state funding and incentives, creation of 150–250 direct high-skilled positions in manufacturing, engineering, quality assurance, laboratory, and operations, plus substantial indirect jobs through construction and suppliers. Once at full scale, the facility is expected to generate significant annual economic activity, major local tax revenue, and support for regional supply chains. Planned collaboration with post-secondary institutions will establish pharmaceutical training programs, co-op placements, and talent pipelines in chemical engineering, pharmaceutical sciences, and related fields. Centrally located to serve the North American contrast media market with excellent logistics for domestic and international distribution, the facility is expected to enable efficient management of iodine and barium contrast production while supporting iodine supply for the Company’s collaboration with Bayer on the Oklahoma iodine prill project.
Brent Willis, CEO of Voyageur Pharmaceuticals, stated: “This location decision optimizes logistics between our Oklahoma iodine sources and Canadian barite resources while providing the infrastructure required for GMP-compliant manufacturing. We are evaluating multiple strong jurisdictions and will select the site that delivers the most compelling overall package, including the strongest incentive support. The jurisdiction that provides Voyageur with the most significant incentive package will secure this transformative project and its substantial long-term economic benefits.” Site preparation and detailed engineering are targeted to commence in late 2026, with first production expected in Q4 2028–2029, subject to financing, regulatory approvals, and other customary conditions. This announcement builds on Voyageur’s ongoing collaboration with Bayer and recent advancements in its barium contrast portfolio, including Health Canada-approved products already in commercial use.
