Amneal Pharmaceuticals To Double Size Of Its Sales, Distribution Center
Published: Sep 24, 2014
September 24, 2014
By Krystle Vermes, BioSpace.com Breaking News Staff
Amneal Pharmaceuticals announced plans on Sept. 23 for a second location in Glasgow, Ky., that will double the size of its national sales and distribution center.
Amneal acquired the lease at 40 Aberdeen Drive in the former Carhartt Building from Aphena Pharma Solutions, which announced that it will end its operations at the end of September.
Amneal has invested more than $6.6 million in Glasgow and created jobs for 80 people in Kentucky, which exceeds its goal for 2014. Once the relocation is complete,more than 90 local residents will be employed through the company.
“From our first opportunity to get to know Akyma’semployees prior to acquiring that business, we have been impressed with the work ethic, integrity, common sense, commitment to success and positive attitude of Kentucky’s citizens,” said Jim Luce, Amneal’s executive vice president of sales and marketing. “The economic incentives definitely played a critical role in our decision to continue growing in Kentucky, though incentives and nice buildings aren’t worth anything without superb people. And finding all three in Glasgow, it was easy to commit our long term future here.”
Tony Hodges, vice president for global logistics, announced Amneal’s latest plans for growth at the County Chamber of Commerce breakfast on Sept. 12.
Amneal Pharmaceuticals is one of the leading manufacturers of generic drugs in the U.S. The company extensively invests in research and development and has an aggressive expansion strategy. Amneal is headquartered in Bridgewater, N.J.
The company will refurbish the building at 40 Aberdeen Drive to create a 120,000 square-foot warehouse. Additionally, 6,000 square feet will be dedicated to offices to support logistics. After the entire project is finished, the company will occupy 221,000 square feet.
In 2007, Amneal acquired Akyma Pharmaceuticals and moved into a 3,000 square-foot office in Kentucky. It also acquired a 30,000 square-foot warehouse following the acquisition.
Through its work in the state, Amneal Pharmaceuticals has obtained a multi-year tax incentive from the Kentucky Economic Development Finance Authority and the Kentucky Business Investment program. It also received a loan from the Glasgow/Barren County Industrial Development Economic Authority, which is forgivable if headcount growth commitments are met.