Faulding completes purchase of manufacturing facility

Facility to commence operations by mid-2001

Australian pharmaceutical and healthcare company F H Faulding & Co. Ltd. (Adelaide, South Australia) has completed its previously announced acquisition of a pharmaceutical development and manufacturing facility in Piscataway, New Jersey (see related article).

Faulding will begin modifications and upgrades on the facility in January 2001. Including the acquisition and renovation costs, the company will spend $88 million over the next five years to renovate the Piscataway site and Faulding's existing site at Elizabeth, New Jersey. Faulding's board of directors has approved the first phase of this investment, totalling $62 million over three years. The company expects development and manufacturing activity to commence at the Piscataway site by mid-2001.

According to Faulding Pharmaceuticals president and CEO Frank Condella Jr., the acquisition of the Piscataway facility and plans to upgrade both New Jersey sites will enable the company to double its unit production of solid oral dosage pharmaceuticals in the United States over the next five years. "It is an investment which reflects Faulding's confidence in the future of these businesses," Condella added.

Faulding's principal businesses are oral and injectable pharmaceuticals, consumer health products, the provision of distribution and retail management services to pharmacies, and logistics management services to hospitals. Faulding products are sold in over 70 countries.

For more information, contact Ed Tweddell or Mark Laurie, both of F H Faulding & Co. Ltd., at 61-8-8205-6500.

Edited by Jim Pomager
Assistant Editor, Pharmaceutical Online