Dowpharma (DOW) Closes Smithfield Plant; Cuts Jobs
10/19/2005 5:11:20 PM
Dowpharma, a business unit of The Dow Chemical Company, has announced plans to close its biopharmaceutical contract manufacturing facility in Smithfield, Rhode Island. Dowpharma will continue to develop its biopharmaceutical contract manufacturing business by building on promising new developments in protein and peptide expression technologies that will contribute significantly to the pharmaceutical industry's drive for accessible, affordable medicines. "Biotechnology is a dynamic industry and demands agility," said Nick Hyde, business director, Dowpharma. "The decision to close the Smithfield facility, formerly owned by Collaborative BioAlliance (CBA), is driven by changes in the biotech industry specifically around mammalian cell culture technology. One of the reasons for our decision to purchase CBA in 2000 was a forecast of additional mammalian cell culture capacity needed to supply the market. Market conditions for this technology have not evolved to the point the industry anticipated just a few years ago. We've recognized this and have decided to sharpen our focus on areas where we can deliver truly differentiated value to our customers. Our emphasis will be on enabling technologies for the rapid process development and scale-up of client production processes for therapeutic proteins and peptides."