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BioVectra Inc. Prize
Current 4th Year
|Process:||Selected by the Scholarships and Awards Committee|
|Description:||Awarded to the graduating student with the second-highest aggregate in the fourth year of the Science program.|
|Background:||The BioVectra Inc. Prize The former Dean of Science at the University of Prince Edward Island, Dr. Duffy, had set up a modest chemical plant in a rented garage to provide summer employment for his brighter student, with a hunch that it might develop into some kind of commercial enterprise. Dr. Duffy placed an ad in a professional journal and received a request for a product used in medical diagnostic testing. Duffy and his staff of three went into production, and Diagnostic Chemicals was born. In 1992, sales reached over $7 million with slightly more than 50 percent in the US market, handled by a marketing group in Oxford, Connecticut. DCL also has established market offices throughout Canada, the US, Europe, Hong Kong, Thailand, Taiwan, Singapore, Phillipines, and Mexico. DCL was dedicated to the manufacturing of medical diagnostic products, specialty chemicals and enzymes used in the Diagnostic, Pharmaceutical, and Life Science markets. The company had added a biotechnology division, which produces enzymes that are extracted from plant and animal tissues. . Diagnostic Chemicals Ltd. was sold to Genzyme Corporation in 2007. Dr. Duffy also established Biovectra, a separate company which manufactures and markets more than 400 products with annual sales of $20 million. His comp any has been listed as one of Canada's Top 100 employers, and he has had a lifelong commitment to the well-being of his employees as well as the health of the PEI economy. BioVectra Inc. funds three awards and scholarships for UPEI students in addition to capital and program support.|