China's Raybow Pharmaceuticals invests $15.8 million to expand US facility

The company will triple its capacity and workforce at its North Carolina site to increase its global capabilities and reach

A year ago, Raybow Pharmaceuticals acquired the Brevard site through its purchase of PharmAgra Labs. The company now plans to add 74 jobs to the site's 24-strong workforce and invest $15.8 million during the next five years.

Given that Raybow USA focuses on early-stage R&D and process research through Phase II clinical trials, the new positions will include research chemists, pilot-plant personnel and supervisors.

Once the expansion is complete, the local region will benefit from a nearly $5.7 million payroll impact in the community every year, the company said.

According to Raybow Pharmaceuticals' Executive Vice President, Peter Halkjaer-Knudsen, the Brevard site will become the company's North American headquarters.

The investment will enable Raybow Pharmaceuticals, which already partners with pharmaceutical companies across Asia, Europe and North America, to increase its global capabilities and reach.

Peter Newsome, Co-President of Raybow USA said: "These investments fit perfectly with our long-term goal of expanding our operations to meet the United States."