Apotex Spends $184mn to Grow U.S. Mfg. Presence

Apotex, the largest Canadian-owned pharmaceutical company, has unveiled details of a $184 million U.S. expansion plan, including the development of a new R&D center and advanced manufacturing and packaging facility that will serve as the U.S. headquarters for Apotex Corp. and the U.S. offices for Apobiologix. This move marks the largest investment that Apotex has made in the U.S. and will result in at least 150 new full-time positions.

When completed, this facility, located in Miramar, FL, will be one of the largest manufacturing projects in South Florida, according to the company. 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 U.S. is a central component of our strategy for global growth and reflects the critical importance of the U.S. and Latin American markets to our success, as well as our confidence in the future of the American manufacturing and biopharmaceutical sector," said Jeremy Desai, president and chief executive officer, Apotex. "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 U.S. and around the world. In addition, due to U.S. regulations, we are only permitted to manufacture controlled substances in the U.S. when serving this market, so expansion in Canada was not feasible."

Apotex is the 7th largest generic pharmaceutical company globally, according to IMS Health, with over 10,000 employees and estimated sales of approximately $2 billion. The company's U.S. headquarters is based in Weston, FL. With its worldwide manufacturing sites, Apotex can produce up to 24 billion dosages per year. It 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 research and development.