Apotex to invest $184 million to grow US manufacturing presence

Expansion plan comprises company's largest investment in the US.
Apotex has announced the details of a $184 million US expansion plan, including the development of a new R&D centre and advanced manufacturing and packaging facility that will serve as the US headquarters for Apotex Corp. and the US offices for Apobiologix. This move marks the largest investment that Apotex has made in the US and will result in at least 150 new full-time positions.
The company chose this strategic location to facilitate more efficient expansion and service of the critical US market, to enhance access to Latin America, and to capture the benefits of Broward County's business environment. When completed, this facility – located in Miramar, FL – will be one of the largest manufacturing projects in South Florida. The site will also house the packaging operations of Aveva Drug Delivery Systems. Construction on the building is underway and expected to be completed in early 2019.
"Expanding our footprint in the US is a central component of our strategy for global growth and reflects the critical importance of the US and Latin American markets to our success, as well as our confidence in the future of the American manufacturing and biopharmaceutical sector," said Apotex CEO and President, Dr Jeremy B. Desai. "With generic and biosimilar medicines playing an increasingly vital role in reducing the cost of drugs, Apotex will continue making strategic investments in R&D and American manufacturing to deliver high-quality, affordable medicine to patients, healthcare providers and stakeholders in the US and around the world. In addition, due to US regulations, we are only permitted to manufacture controlled substances in the US when serving this market, so expansion in Canada was not feasible."
The significant investment by Apotex reinforces the success that Greater Fort Lauderdale, Broward County, and the State of Florida have achieved in attracting the world's most innovative life science companies, and cultivating an environment where leaders in that industry can grow and thrive. South Florida is currently home to approximately 1,500 bioscience businesses and institutions that employ more than 26,000 people and generate over $4 billion in sales, according to recent estimates. The concentration of biomedical companies in Greater Fort Lauderdale, supported by a vibrant network of regional universities and research facilities, creates the ideal ecosystem for Apotex to establish a strong foundation for future expansion and growth.
"Over the past several years, Greater Fort Lauderdale/Broward County has worked to develop this region into the destination of choice for the most advanced companies in the biomedical field," said Bob Swindell, president and CEO of the Greater Fort Lauderdale Alliance. "We congratulate Apotex on this bold investment and commit our ongoing support in the company's continued growth and success."
Broward County Mayor Barbara Sharief added: "As the home to a thriving community of innovative, purpose-driven companies and dedicated researchers, we are incredibly proud of the role that Broward County plays in supporting the development of life saving treatments for vulnerable patients throughout the world. We welcome Apotex as a new member of the Broward County family and look forward to a long and fruitful relationship."
Miramar Mayor Wayne Messam said: "With one of the fastest growing economies in the nation, Miramar remains an attractive city for companies to grow and prosper. Our city has been intentional in attracting target market firms like Apotex. Miramar is so excited about the opportunity to partner with Apotex in their expansion. It will create hundreds of high paying jobs for our city and residents and will help to fuel an already thriving economic position for Miramar and the region."
Related News
-
News WuXi to sell CGT manufacturing unit to US-based Altaris LLC
At the tail end of 2024, Chinese-based CDMO WuXi AppTec announced the signing of their deal with private equity firm Altaris LLC, confirming the sale of WuXi Advanced Therapies, the cell and gene therapy manufacturing arm of WuXi AppTec. -
News Women in Pharma: Our hopes for 2025 and beyond
Our last instalment for 2024 of the Women in Pharma series brings you messages direct from the Informa Markets CPHI team as they discuss the advice and insights they have carried throughout their roles working at CPHI, and what they hope to see for the... -
News CPHI Milan Wrap-Up Report: Conference Highlights
Discover the emerging and trending topics of the pharmaceutical industry with our CPHI Milan Conference Highlights, with exclusive insight from pharmaceutical leaders and experts! -
News BIOSECURE Act not included in key defense spending bill for 2025
On December 7, 2024, the Biden administration revealed the 2025 National Defense Authorization Act, an annual defense bill specifying the budget and expenditures of the US Department of Defense. The controversial BIOSECURE Act was notably missing from ... -
News Lessons from CPHI Milan 2024: Sunny Intervals for Pharma Manufacturing?
As the 2024 CPHI conference wrapped up in Milan, we caught up with L.E.K. Consulting – a global strategy consulting firm with deep expertise in pharma manufacturing – to discuss evolving market perspectives and business outlook. -
News Trump 2.0: What does the US election result mean for the healthcare industry?
After Trump won the Presidential election in the US in early November, we take a look at some of the implications a new Trump administration could have on the health and pharmaceutical industry, and on US patients. -
News Women in Pharma: Reflections from Behind the Scenes
In this instalment of our monthly series, the team that brings you the Women in Pharma series each month sits down for a heart-to-heart on what the series means to them, and how they hope to continue their work in the future. -
News Scaling the Industry: CPHI Scale-Up Market interview with YSK Laboratories
For the first time, CPHI Milan hosted the CPHI Start-Up Market, expanding support for emerging and small-sized enterprises in their transition to the next level of growth. In this interview, we spoke with Yuvansh Khokhani, Managing Director of YSK Labo...
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance