SAFC Pharma to invest $30 million in expansion plan
This article was originally published in Scrip
Executive Summary
SAFC Pharma will invest $30 million in an expansion plan designed to increase its commercial production of high potency active pharmaceutical ingredients. The firm, which is a subsidiary ofSigma-Aldrich, will build a new 45,000 sq ft manufacturing facility on 15 acres of land near its existing site in Verona, Wisconsin. The facility will include new laboratories, a 150 litre mini-processing plant and two large-scale cGMP manufacturing suites. SAFC Pharma said that the plant's construction would be completed by the end of 2009.
You may also be interested in...
AB Science lists on Euronext after reducing offer size
AB Science has closed its IPO at just half of the value of its initial expectations. The gross proceeds of the French firm's offer were €27.5 million, compared with the €55.5 million it anticipated when it filed for the offering on 8 April. Of the total, the company secured $16.5 million from the sale of newly issued shares; the remaining €11 million went to selling shareholders.
Amgen posts strong first-quarter sales but healthcare reform set to bite
Amgen's sales rebounded in the first quarter rising 9% to $3.6 billion after a disappointing end to last year. However, the introduction of new legislation for US healthcare has weighed on its forecast for the year, as it has done for many of its competitors.
Tracleer drives growth for Actelion
Actelion's total revenues leapt up by 24% to CHF502 million ($467 million) during the first quarter due to stronger demand for its pharmaceuticals. The firm's net income rose by 30% to CHF133 million, while its diluted EPS increased from CHF0.83 in the first quarter last year to CHF1.09.