Krigen Pharmaceuticals Invests $7 Million in US Injectables Mfg FacilityBy
Krigen Pharmaceuticals, a privately held Indian pharmaceutical company, is investing $7 million in a new US manufacturing facility in Lillington, North Carolina. Krigen will manufacture IV bags and liquid injectables in a new 55,000-square-foot facility.
The facility is the company’s first facility in the US, and the project is expected to create 100 new jobs.
A performance-based grant of $200,000 from the One North Carolina Fund, a discretionary cash-grant program of the state of North Carolina, will facilitate Krigen’s new operation. Under the program, companies receive no money upfront and must meet job-creation and capital- investment targets to qualify for payment. All grants require a matching grant from local government, and any award is contingent upon that condition.
Other key partners in the investment include the North Carolina General Assembly, North Carolina Community College System, North Carolina Biotechnology Center, Harnett County, Harney County’s Economic Development Office and the Town of Lillington.
Source: NC Governor Roy Cooper