Voyageur Pharmaceuticals Ltd. (TSX-V: VM) (OTC Pink: VYYRF) announced it is evaluating three potential U.S. sites for its planned integrated iodine and barium contrast drug manufacturing facility, a move that could reshape the North American supply chain for critical medical imaging agents. The company is conducting a comprehensive technical, regulatory, economic, and logistical analysis of candidate locations, with a focus on proximity to iodine brine sources, which are expected to support more than 70% of future revenue.
Strong candidate locations have been identified in Oklahoma and Texas due to their proximity to Voyageur’s iodine extraction initiatives in Oklahoma’s Anadarko Basin, robust transportation infrastructure, access to skilled labor, and competitive business climates with low taxes and cost-effective land and energy. The company is actively engaging with economic development authorities and expects to select the site that offers the most attractive incentive and support packages. According to CEO Brent Willis, the jurisdiction providing the most significant incentive package will secure this transformative project and its substantial long-term economic benefits.
The facility will receive concentrated iodine liquor from Voyageur’s proprietary closed-loop Streamlined Iodine Process and high-purity barite from the Frances Creek project. Unlike conventional manufacturers that rely on imported iodine flakes or intermediates, this integrated GMP campus will combine on-site iodine-to-API synthesis with barite upgrading 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 and government customers. Key anticipated project highlights include cost leadership through vertical integration, significant funding and incentive opportunities, creation of 150–250 direct high-skilled jobs, and substantial annual economic activity and tax revenue.
Site preparation and detailed engineering are targeted to commence in late 2026, with first production expected in Q4 2028–2029, subject to financing and regulatory approvals. 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. The company continues to work closely with economic development corporations and state/federal partners to advance incentives and permitting. Management believes the project aligns with U.S. priorities for domestic critical and strategic minerals, pharmaceutical onshoring of strategic drugs, and rural economic development.
Voyageur Pharmaceuticals is a Canadian company focused on becoming a low-cost, vertically integrated producer of barium and iodine Active Pharmaceutical Ingredients (APIs) and finished imaging contrast agents. By owning 100% of the high-grade Frances Creek barite project and leveraging its patent-pending Mueller process for low-cost iodine extraction, the company aims to control all primary input costs. This end-to-end ownership is expected to deliver materially lower operating costs than competitors and create a reliable North American supply chain, reducing geopolitical, logistics, and shortage risks for hospitals and patients.
