Apotex Invests $184 Million in US Manufacturing Expansion
Apotex Inc., a Weston, Florida-headquartered, Canadian-owned generic pharmaceutical company, plans to invest $184 million to expand in the US, which will include the development of a new research and development (R&D) center and an advanced manufacturing and packaging facility in Miramar, Florida, that will serve as the US headquarters for Apotex Corporation and the US offices for Apobiologix, a Weston, Florida-based division of ApoPharma USA, a member of the Apotex group of companies.
This investment will result in at least 150 new full-time positions, according to the company. Construction is underway and expected to be completed in early 2019. The site will also house the packaging operations of Aveva Drug Delivery Systems, an Apotex company based in Miramar, Florida that specializes in transdermal drug delivery.
Miramar is a strategic location for Apotex that will facilitate its expansion and service in the US market by enhancing Apotex’s access to Latin America. Apotex has more than 10,000 employees and has estimated sales of approximately $2 billion. With worldwide manufacturing sites, Apotex has the capacity to produce up to 24 billion dosages per year and produces 300 medicines in 4,000 dosages and formats that are exported to 115 countries. Apotex will spend $2 billion over the next 10 years on R&D, the company said.