Patheon Inc.'s Greenville Plant To Add 488 Well-Paying Jobs
October 6, 2014
By Krystle Vermes, BioSpace.com Breaking News Staff
Today, Patheon Inc. announced that it will be adding 488 new jobs as a result of its expansion of a plant located in Greenville, N.C. Patheon, which merged with the Dutch parent company of DSM Pharmaceuticals back in March, will invest $159 million in the expansion by the end of 2019.
The terms of the expansion are defined in the Job Development Investment Grant agreement, which was approved by North Carolina’s Economic Investment Committee. State officials also approved an economic development incentive package worth $7.4 million to go toward another expansion in Greenville.
The Success of a Parent Company
Although Patheon is making big moves, its parent company is also looking to grow. DPx Holdings B.V., privately owned by JLL Partners and Royal DSM, announced on Aug. 27 that it would be acquiring all of the shares of Gallus BioPharmaceuticals, LLC.
Gallus is a manufacturer that specializes in biologics. As a result of the deal, Patheon’s biologic drug unit gained the ability to expand across four facilities in Europe, Australia and North America. Gallus has made Patheon a leading provider of process development, in addition to clinical and commercial scale manufacturing of mammalian cell culture derived products.
“This is an exciting time as we join a world-class company and expand our offerings as one global team specializing in biologics,” said Mark Bamforth, president and CEO of Gallus BioPharmaceuticals. “We have built deep commercial and clinical manufacturing and process development capabilities that are highly complementary to Patheon’s biologics organization. We look forward to the ongoing success and growth by combining our knowledge, skills, technical expertise and capabilities to serve customers’ product needs.”
The deal is expected to become official by the end of the fourth quarter of 2014. Two of Gallus’ former sites in St. Louis, Mo. and Princeton, N.J. will become the first Patheon biologic drug substance sites in the U.S. In turn, Patheon will be able to expand its capabilities in mid-scale flexible manufacturing.
“We are pleased to expand our biologics business with the acquisition of Gallus BioPharmaceuticals,” said Jim Mullen, CEO of DPx Holdings. “This transaction is in line with our strategy. We can now further support the needs of our customers with biologics projects by providing flexibility, leading technology solutions, commercial operations and an expanded footprint with two U.S. sites.”