PART I – THE ARBITRATION

(1) The Parties

1.1. Apotex-Holdings: The First Claimant is Apotex Holdings Inc. (“Apotex-Holdings”). It is a privately owned corporation organised under the Canada Business Corporations Act, a Canadian federal law. It functions as a holding company, by way of vertical integration, for the investments of the Apotex group of companies, consisting of companies formed and operating in Canada and elsewhere in the world (including the USA). The principal place of business of Apotex-Holdings is 150 Signet Drive, Toronto, Ontario M9L 1T9, Canada.

1.2. Apotex Inc.: The Second Claimant is Apotex Inc. (also called “Apotex-Canada” in these proceedings). It is a company incorporated under the laws of the province of Ontario, Canada. The principal place of business of Apotex Inc. is also 150 Signet Drive, Toronto, Ontario M9L 1T9, Canada. Apotex Inc. is indirectly owned and controlled by Apotex-Holdings. It operates several facilities in Canada, two of which are relevant to these arbitration proceedings.

1.3. Apotex-US: Apotex Corp. is a corporation organized under the laws of Delaware, USA, authorised to transact business in the state of Florida (“Apotex-US”). Its principal place of business is 2400 North Commerce Parkway, Suite 400, Weston, Florida 33326, USA. The First Claimant (Apotex-Holdings) indirectly owns and controls Apotex-US (which is not a named party to this arbitration).

1.4. Apotex: For ease of reference, the Claimants are collectively described by the Parties and below as “Apotex.”

1.5. The Respondent: The Respondent is the United States of America, a Party to the North American Free Trade Agreement (“NAFTA”) which entered into force on 1 January 1994.