Piramal Pharma Solutions invests around $32 m to expand Michigan facility
The expansion is planned to be ready for customers beginning summer 2022
Piramal Pharma Solutions is investing around $32 million (over Rs 235 crore) to expand its facility in Michigan, US, with additional capacity and new capabilities for the development and manufacturing of active pharmaceutical ingredients (APIs). The company is investing the amount in the facility to keep up with expected demand based on current forecasts, including potential new opportunities, Piramal Pharma Solutions said in a statement.
The expansion is ready for customers beginning summer 2022. It is expected that the expansion will add around twenty new hires to the site, bringing the total headcount to more than 180 employees and further benefiting the local economy, it added.
“Piramal Pharma Solutions’ Riverview facility has a well-earned reputation as the preeminent leader in high potency APIs, and this expansion is designed to ensure that we retain that position,” Peter DeYoung, CEO, Piramal Pharma Solutions.
The company will to support its customers’ immediate and long-term API needs, strengthens presence in North America, and enhances ability to serve patients around the world by delivering the active ingredients on time, he added.
Piramal Pharma Solutions is a contract development and manufacturing organisation, offering end-to-end development and manufacturing solutions across the drug life cycle.
PTI
