Faulding buys additional U.S. manufacturing facility for $6.8 million
Situated on 16 acres, the facility consists of one large building that houses laboratories and manufacturing, warehouse, and office space. It is approved by the U.S. Food and Drug Administration (FDA) and meets Good Manufacturing Practice (GMP) requirements.
Over the next three years, Faulding will make significant investments to increase tablet and capsule manufacturing capacity at both the new facility and the existing development and manufacturing facility at Elizabeth. The company also plans to initiate additional personnel hirings during the second half of the current financial year.
According to Frank Condella Jr., president and CEO of Faulding Pharmaceuticals, the expansion will support the company's new oral pharmaceutical product launches planned for next year, and will provide greater flexibility in support of Faulding's strategic plans to grow its generic and branded pharmaceutical businesses.
Faulding is a health and personal care company, with principal businesses in generic oral and injectable pharmaceuticals, consumer health products, the provision of distribution and retail management services to pharmacies, and logistics management services to hospitals.
For more information, contact Ed Tweddell, group managing director and CEO, or Mark Laurie, VP of investor relations and company secretary, both of F H Faulding & Co Ltd. at +61-8-8205-6500.
Edited by Jim Pomager
Assistant Editor, Pharmaceutical Online